Compute the taxable income for 2018 in each of the following independent situations: a. Drew and Meg,
Question:
Compute the taxable income for 2018 in each of the following independent situations:
a. Drew and Meg, ages 40 and 41, respectively, are married and file a joint return. In addition to four dependent children, they have AG! of $125,000 and itemized deductions of $27,000.
b. Sybil, age 40, is single and supports her dependent parents, who live with her, as well as her grandfather, who is in a nursing home. She has AGI of $80,000 and itemized deductions of $8,000.
c. Scott, age 49, is a surviving spouse. His household includes two unmarried stepsons who qualify as his dependents. He has AG! of $75,000 and itemized deductions of $10,100.
d. Amelia, age 33. is an abandoned spouse who maintains a household for her three dependent children. She has AG! of $58,000 and itemized deductions of $9,500.
e. Dale, age 42, is divorced but maintains the home in which he and his daughter, Jill, live. Jill is single and qualifies as Dale's dependent. Dale has AGI of $64,000 and itemized deductions of $9,900.
Step by Step Answer:
South-Western Federal Taxation 2019 Essentials Of Taxation Individuals And Business Entities
ISBN: 9781337702966
22nd Edition
Authors: William A. Raabe, James C. Young, Annette Nellen, David M. Maloney