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Questions 11 through 16 please. 11. For 2019, what is the maximum EIC credit allowed for a taxpayer who has two qualifying children, is not
Questions 11 through 16 please.
11. For 2019, what is the maximum EIC credit allowed for a taxpayer who has two qualifying children, is not filing a joint return, and has been separated from his spouse for 3 months? a) $5,828 b) $ 529 c) $6,557 d) $ 0 12. Olga (age 69) and Chris (age 63) are married and filing a joint return. What is their standard deduction for 2019? a) $27,000 b) $24.400 c) $26,050 d) $25,700 13. Mario (age 59) and his wife, Maria (age 51), contributed to a traditional IRA in 2019. Mario had earned income of $35,000 and was not covered by a retirement plan at work. Maria didn't have earned income. What is the maximum total contribution deduction allowed for both? a) $13,000 b) $ 7,000 c) $14,000 d) $12,000 14. Patrick, age 62, works as a school teacher and will pay $5,000 for his long-term care insurance premiums during 2019. He will use the standard deduction. How much of his premiums can he deduct on his federal tax return? a) $4,220 b) $4,160 c) $ 0 d) $5,000 15. Jesse is a traveling salesman for Flawless Face Cosmetics. He drove a total of 23,000 miles in 2019 on behalf of the business. If he uses the standard mileage rate for 2019, how much would he be able to deduct on his Schedule C for use of his personal vehicle? a) $ 3,220 b) $13,340 c) $ 4,600 d) $12,535 16. Sheila has one employer. What is the maximum Social Security tax that can be withheld from Sheila's 2019 wages of $142,900? a) $ 7,960.80 b) $ 8,859.80 c) $ 8,239.80 d) $10,931.85Step by Step Solution
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