LO.1, 2, 3, 4, 5 Morgan (age 45) is single and provides more than 50% of the
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LO.1, 2, 3, 4, 5 Morgan (age 45) is single and provides more than 50% of the sup- port of Rosalyn (a family friend), Flo (a niece, age 18), and Jerold (a nephew, age 18). Both Rosalyn and Flo live with Morgan, but Jerold (a French citizen) lives in Canada. Morgan earns a salary of $95,000, contributes $5,000 to a traditional IRA, and receives sales proceeds of $15,000 for an RV that cost $60,000 and was used for vacations. She has $8,200 in itemized deductions. Using the Tax Rate Schedules, compute Morgan's 2018 tax liability.
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Related Book For
Essentials Of Taxation Individuals And Business Entities 2019
ISBN: 9780357233290
1st Edition
Authors: William A Raabe, James C Young
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