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please answer all parts and questions thanks Arthur's employer establishes Health Savings Accounts (HSAS) for its employees, Arthur pays $2,100 into his HSA. During the
please answer all parts and questions thanks
Arthur's employer establishes Health Savings Accounts (HSAS) for its employees, Arthur pays $2,100 into his HSA. During the year, the HSA earns $90 interest and Arthur receives $1,850 from the HSA for reimbursement of medical expenses. 1 Arthur must include $90 in gross income from the HSA arrangement 11. Arthur loses the $250 in contributions that are not spent on medical expenses in the current year Oa. Only statement. Il is correct Ob. Only atment in correct Oc Both statements are correct Od. Neither statement is correct Jessica is single and has a 2020 taxable income of $203,300. She also received $15,000 of tax-exempt income. Jessica's marginal tax rate is: O a. 22.0% O, 211%. Oc. 35.0% Od 22.7% Oe. 120% Earned and Unearned Income, Transfers from Others (LO. 3) Elwood is retired. During 2020, he receives $11,000 in Social Security benefits. In addition, he recelves $6,000 in cash dividends on stocks that he owns and $8,500 In Interest on tax-exempt bonds. Assuming that Elwood is single, what Is his gross income if a. He receives no other income? b. He also receives $10,800 in unemployment compensation? c. He sells some land for $79,900 and he paid $13,900 for the land Step by Step Solution
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