Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please help for the correct answers, your explanation will be more helpful thx!!! Question 1 Julia and Maria are registered domestic partners filing jointly for

Please help for the correct answers, your explanation will be more helpful thx!!!

Question 1

Julia and Maria are registered domestic partners filing jointly for California tax purposes. Their combined Form 540, line 19, taxable income is $73,721. What is their tax to be entered on line 31 if using the tax table?

Group of answer choices

$3,608

$1,788

$2,578

$2,154

Question 2

Julia and Maria are registered domestic partners filing jointly for California tax purposes. Their combined Form 540, line 19, taxable income is $73,721. What is their tax to be entered on line 31 if using the tax rate schedule? (round your answer)

Group of answer choices

$3,608

$1,789

$2,398

$2,155

Question 3

Francis files his California Form 540 as head of household and has line 19, taxable income of $47,394. What is Francis tax to be entered on line 31 if using the tax table?

Group of answer choices

$1,176

$1,767

$940

$746

Question 4

Francis files his California Form 540 as head of household and has line 19, taxable income of $47,394. What is Francis tax to be entered on line 31 if using the tax rate schedule? (round your answer)

Group of answer choices

$1,177

$1,768

$746

$915

Question 5

Klay and Dan have decided to end their registered domestic partnership but have not filed any dissolution paperwork to start the process as of the last day of the current tax year. They are going to file as status, "Married/RDP Filing Separately". Klay has Form 540, line 19 taxable income of $63,424 and Dan has Form 540, line 19 taxable income of $84,681. What is Dans tax to be entered on line 31 if using the tax table?

Group of answer choices

$5,120

$4,631

$5,140

$2,822

Question 6

Klay and Dan have decided to end their registered domestic partnership but have not filed any dissolution paperwork to start the process as of the last day of the current tax year. They are going to file as status, "Married/RDP Filing Separately. Klay has Form 540, line 19 taxable income of $63,424 and Dan has Form 540, line 19 taxable income of $84,681. What is Klays tax to be entered on line 31 if using the tax rate schedule? (round your answer)

Group of answer choices

$2,120

$2,141

$2,689

$3,983

Question 7

What is the total tax each person would pay in questions 5 and 6 above?

Group of answer choices

$7,320

$8,272

$8,283

$8,292

Question 8

What is the total tax to be entered on line 31 if the taxpayers in questions 5 and 6 above filed as status married/RDP filing jointly using the tax rate schedule?

Group of answer choices

$7,281

$8,251

$8,274

$8,281

Question 9

Thomas is married to Ethel and they are 66 and 64 years old respectively. Ethel is legally blind and can no longer drive. Their only income is interest and dividends on savings and investments totaling $58,922. What is the amount of exemption credits they will enter on Form 540, line 32?

Group of answer choices

$560

$387

$258

$0

Question 10

Trisha is a 37 year-old single parent of two children ages 7 and 10. Trisha has full custody of both children and files her Form 540 as head of household status. Trishas W-2 reported wages of $63,076 for the year. What is the amount of exemption credits they will enter on Form 540, line 32?

Group of answer choices

$129

$258

$387

$1,006

Question 11

Jamal is a 26 year old single real estate agent in southern California. Last year Jamal reported $235,964 on Form 540, line 13. What is the amount of exemption credits Jamal will enter on Form 540, line 32?

Group of answer choices

$122

$140

$433

$485

Question 12

Lisa and Jeff are married defense attorneys working for a large Los Angeles law firm. Their combined federal adjusted gross income is $586,120. The couple has 4 children all under the age of 15. What is the amount of exemption credits they will enter on Form 540, line 32?

Group of answer choices

$508

$909

$1,468

$1,704

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals Of Futures And Options Markets

Authors: John Hull

9th Edition

0134083245, 9780134083247

More Books

Students also viewed these Finance questions

Question

Understand employee mentoring

Answered: 1 week ago

Question

Appreciate the importance of new-employee orientation

Answered: 1 week ago