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Questions 5 through 10 please. 5. Francis donated several items to Goodwill in 2019. She drove 150 miles during the year directly attributable to her
Questions 5 through 10 please.
5. Francis donated several items to Goodwill in 2019. She drove 150 miles during the year directly attributable to her donations. How much may she deduct on her Schedule A for charitable mileage when she itemizes her deductions? a) $ 0 b) $ 21 c) $150 d) $ 30 6. Harry is single and self-employed. His net profit from his business was $150,000 for the 2019 tax year. How much would his self-employment tax be on line 57 of Schedule 4 (Form 1040)? a) $19,939 b) $21,194 c) $22,950 d) $20,497 7. Harry is single and self-employed. His net profit from his business was $150,000 for the 2019 tax year. How much would Harry's self-employment tax deduction be on line 27 of Schedule 1 (Form 1040)? a) $10,249 b) $10.597 c) $11,475 d) $10,167 8. David is single and works as a chemical engineer. He has just one employer. His wages for 2019 were $210,000. What is the total amount of ocial Security and Medicare tax his employer was required to withhold from his wages? a) $16.155 b) $11,285 c) $11,374 d) $11,096 9. Richard, 63, and Rachel, 48, both want to make the maximum contribution to their IRAs for 2019. They are both covered by retirement plans at their work. Their combined income for 2019 is $98,685. Their Modified AGI is $98,685. What is the maximum combined contribution they can make to their IRAs? a) $12,000 b) $13,000 c) $14,000 d) $ 0 10. Lindsey, age 47, is a retail store manager and was divorced 2 years ago. She has a dependent son, David, age 17. She does not itemize deductions and has no adjustments to income. Her wages from her job were $56,750 in 2019. What would be her tax (before any payments)? a) $3,494.00 b) $6,923.00 C) $4,331.00 d) $5,659.50Step by Step Solution
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