Question
write the correct answer Compute the taxable income for 2020 for Alexis on the basis of the following information. Alexis is married but has not
write the correct answer
Compute the taxable income for 2020 for Alexis on the basis of the following information. Alexis is married but has not seen or heard from her husband since 2017.
Salary $ 70000
interest on bonds issued by Panda Corporation 4,000
Interest on CD issued by PNC Bank 3000
Cash dividend received on GE common Stock 1,200
Life insurance proceeds paid on death of aunt (Alexis was the designated beneficiary of the policy) 50,000
Inheritance received on the death of aunt 3,00,000
Carlton (a cousin) repaid a loan Alexis made to him in 2006 (no interest was provided for). 5,000
Itemized deductions (state income tax, property taxes on a residence, interest on a home mortgage, charitable contributions) 8,200
Number of dependents (children, ages 13, 14, and 15) 3
age 39
.3. Determine the number of personal and dependency exemptions in each of the following independent situations
[Leo and Amanda (age 48 and 46) are husband and wife and furnish more than 50% of the support of their two children, Elton (age 18) and Trista (age 24). During the year, Elton earns $4,500 providing transportation for elderly persons with disabilities, and Trista receives a $5,000 scholarship for tuition at the law school she attends
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4. Determine the number of personal and dependency exemptions in each of the
[Alberto, a U.S. citizen and resident, contributes 100% of the support of his parents who are citizens of Mexico and live there]
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Determine the number of personal and dependency exemptions in each of the following independent situations
[Marcus (age 68) and Alice (age 65 and blind) file a joint return. They furnish more than 50% of the support of a cousin, Ida, who lives with them. Ida (age 20) is a full time student and earns $4,000 during the year tutoring special needs children]
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In each of the following independent situations, determine Winstons filing status. Winston is not married
[Winston lives alone but maintains a household in which his married daughter, Karin, lives. Both Karin and her husband (Winstons son-in-law) qualify as Winstons dependents]
Single
Head of household
Married filed jointly
Married filed separately
Surviving spouse
please answer these all questions within a HALF HOUR PLEASE THANKYOU
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