31. Tom and Linda are marry taxpayers who file a roasted return. They have itemized deductions of $11,950 and four exemptions. presumptuous an adjusted swinish income of $40,000, what is their nonexempt income for 2011? Filing Married 4 AGI $40,000 Itemized ($11,950) Exemptions($14,800) 4*3700 rateable Income $13,250 32. Compute Maries dutiable income for 2011, assuming she is single and claims cardinal dependent children. Her adjusted common income is $70,000, and she has itemized deductions of $9,000. Filing Single 2 AGI $70,000 Itemized($9,000) Exemptions($11,000) 3*3700 Taxable Income$50,000 36. Compute Stanleys dutiable income for 2011, assuming he has $1,000 in wages from working in a grocery retention and $2,000 in interest income from slightly bonds he owns. Stanley, age 16, is claimed as a dependent on his parents return. AGI$3,000 Deductions($2,300) Larger income plus $300 Taxable Income $700 55. Mr. Z, a non-dealer, sold assets on an installment plan. Determine Mr. Zs realize income for 2011. Relevant data accord: GP%GP Income $ 0.25 $ 6,250 $ 0.27 $ 21,600 $ 0.
24 $ 30,000 gross Income $ 57,850 69. Comprehensive Problem. Bill is a bills-basis, calendar- class taxpayer. Which of the following December items dissolvent in gross income or deductions for the current year? a. accord certain for December rent, $700, not deposited until January 4 gross income b. look for $1,100 to pay Bills state income taxes send December 28, cashed January 7 goes on the following year c. cash in received in the amount of $500 for run to be rendered the following year gross income d. Interest of $800 credit to his savings account, added to Bills account isotropy gross income e. Check received for January rent, $700, deposited on January 9 does not qualify for either it would go on next historic period taxes f. Charitable contribution of $300,...If you destiny to stand a fully essay, order it on our website: Ordercustompaper.com
If you want to get a full essay, wisit our page: write my paper