Question
Victoria, age 66, is an unmarried, cash basis, calendar year taxpayer with no dependents. Victoria has the following income and deductions for 2019: RECEIPTS FOR
Victoria, age 66, is an unmarried, cash basis, calendar year taxpayer with no dependents. Victoria has the following income and deductions for 2019:
RECEIPTS FOR YEAR
Salary from local school district $ 63,000
Interest from Friendly Bank 1,235
Interest from City of Santee bonds 1,100
Dividends from Tandem Diabetic (qualified) 375
Loss from sale of Tandem Diabetic held 36 months - 3,200
EXPENDITURES FOR YEAR Itemized deductions $ 13,200
Calculate Victoria’s adjusted gross income, taxable income, and federal income tax. Show your work. Gross income tax = $_____________
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C E 1 Solution 2 Abbeys salary 63000 3 Interest from friendly bank 1235 4 ...
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Microeconomics
Authors: Paul Krugman, Robin Wells
3rd edition
978-1429283427, 1429283424, 978-1464104213, 1464104212, 978-1429283434
