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same 9.Cathy's husband died in 2015. She did not remarry and continued to maintain a home for herself during 2016, 2017, and 2018. For 2016,
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9.Cathy's husband died in 2015. She did not remarry and continued to maintain a home for herself during 2016, 2017, and 2018. For 2016, Cathy's filing status is: A.Single B.Married filing separately C.Head of household D.Surviving spouse, using married filing jointly rate E.None of these answers. 10. Walmart Cor. granted Halima 2 years ago nonqualified stock options to buy 200 shares of Walmart stock at $5 share exercisable for four years. Halima exercised the options this year when the market price was $40 per share. How much income must Halima recognize from the exercise of the options? A.$7,000. B.$3,000. C.$8,000. D.$1.000. E. None of these answers. 11.If an employee is reimbursed through an accountable plan which of the following is true? A.All reimbursements must be included in income. B.A reimbursement equal to the expense is not included in income. C.The amount of reimbursement above the expenses should not be included in income. D.None of these answers. 12. Which of the following sources of income is not taxed? A.401(k) plan distributions. B.Gambling winning. C.Interest from saving account. D.stock dividends. E.None of these answers. 10 Walmart Cor granted Halima 2 years ago nunqualified stock options to hoy 2 Walmart stock at $5 share exercisable for four years Halima exercised the options when the market price was $40 per share. How much income most Halima recognize exercise of the opcions? A$7,000 8.53,000 CS8,000 D.$1,000. E. None of these answers 11.If an employee is reimbursed through an accountable plan which of the following is true? A.All reimbursements must be included in income. B.A reimbursement equal to the expense is not included in income. C.The amount of reimbursement above the expenses should not be included in income. D.None of these answers. 12. Which of the following sources of income is not taxed? A.401(k) plan distributions. B.Gambling winning. C.Interest from saving account. D.stock dividends. E.None of these answers 13.Samir is single and 55 years of age, and has gross income of $58,000 in 2019. His expenses are as follows: Alimony paid (divorced in 2013) $15,000; Charitable contributions 3,000; Contribution to a traditional IRA 5,000, Interest on home mortgage and property taxes on residence 6.000; and State income tax 3,200. What is Samir's AGI for 2019? A.$19,800. B.$30,000. CS35,000. D.S38,000. E.None of these answers Step by Step Solution
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