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Please answer all parts of this question. Thank you. Compute the taxable income for 2021 in each of the following independent situations. Click here to
Please answer all parts of this question. Thank you.
Compute the taxable income for 2021 in each of the following independent situations. Click here to access the standard deduction table to use if required. a. Drew and Meg, ages 40 and 41 , respectively, are married and file a joint return. In addition to four dependent children, they have AGI of $125,000 and itemized deductions of $27,000. b. Sybil, age 40, is single and supports her dependent parents, who live with her, as well as her grandfather, who is in a nursing home. She has AGI of $80,000 and itemized deductions of $8,000. c. Scott, age 49, is a surviving spouse. His household inclufes two unmarried stepsons who qualify as his dependents. He has AGI of $75,000 and itemized deductions of $10,100. c. Scott, age 49, is a surviving spouse. His household includes two unmarried stepsons who qualify as his dependents. He has AGI of $75,000 and itemized deductions of $10,100. d. Amelia, age 33 , is an abandoned spouse who maintains a household for her three dependent children. She has AGI of $58,000 and itemized deductions of $10,650. e. Chang, age 42 , is divorced but maintains the home in which he and his daughter, Jill, live. Jill is single and qualifies as Chang's dependent. Chang has AGI of $64,000 and itemized deductions of $9,900 Step by Step Solution
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