Business

Business, 29.06.2019 08:20, Lilabsterdoll

Jacob is a single taxpayer who has net investment income consisting of $15,000 interest on a certificate of deposit, $7,500 from dividends from a mutual fund, $7,500 from capital gain distributions from mutual funds, and $42,500 in long-term capital gains from selling some stocks, and his magi is $175,000.

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Business, 16.07.2019 20:30, lauramount

Determine the amount of the 2018 standard deduction allowed in the following independent situations. in each case, assume the taxpayer is claimed as another person's dependent. amount of the standard deduction a. bajnok, aged 19, reports income as follows: $2,800 from walking dogs. $ 1,050 b. lance, aged 18, records income as follows: $1,000 in cash dividends from a stock investment. $ c. neeraj, aged 69, incurs income as follows: $400 interest on a bank savings account and $8,000 in wages from a part-time job. $ d. bobbi, who is legally blind and 15 years old, reports income as follows: $2,400 in interest income from a certificate of deposit and $1,400 earned income. $ e. abbigail, aged 60 and a widow, incurs income as follows: $12,100 from babysitting. $

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Business, 18.08.2019 04:10, erika6072

Which of the following is a true statement? a. for purposes of the deduction for educational interest, expenses do not include expenses for room, board and travel.b. for purposes of the deduction for educational interest, qualified education expenses are those paid for the education of the taxpayer, the taxpayer's spouse, or a taxpayer's dependent.c. the maximum deduction for interest expense on qualified education loans is $6,000.d. a penalty paid for prematurely withdrawing a certificate of deposit or similar deposit is deductible as an investment expense.e. all of these are false.

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Business, 09.10.2019 21:00, Rakeem458

Determine the amount of the 2019 standard deduction allowed in the following independent situations. in each case, assume that the taxpayer is claimed as another person's dependent. amount of the standard deduction a. curtis, age 18, reports income as follows: $700 interest from a certificate of deposit and $12,400 from repairing cars. $ b. mattie, age 18, records income as follows: $600 cash dividends from a stock investment and $4,700 from handling a newspaper route. $ c. mel, age 16, incur income as follows: $675 interest on a bank savings account and $800 for painting a neighbor's fence. $ d. lucy, age 15, reports income as follows: $400 cash dividends from a stock investment and $500 from grooming pets. $ e. sarah, age 67 and a widow, incurs income as follows: $500 from a bank savings account and $3,200 from babysitting.

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Business, 24.10.2019 21:43, loredobrooke5245

All of the following statements are true exceptselected answers: investment interest expense includes interest expense to purchase or carry tax-exempt securities.net investment income is the taxpayer's investment income in excess of investment expenses.short-term capital gains meet the definition of net investment income.investment interest expense is deductible to the extent of a taxpayer's net investment income.

Answers: 3

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