Morgan (age 45) is single and provides more than 50% of the support of Tammy (a family friend), Jen (a niece, age 18), and Jerold (a nephew, age 18). Both Tammy and Jen 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.
Click here to access the standard deduction table to use if required.
a. Morgan's taxable income is $
b. Using the Tax Rate Schedules (click here), tax liability for Morgan is $ for 2019.
c. Compute Morgan's dependent tax credit. $
Answers: 2
Another question on Business
Business, 22.06.2019 10:30
On july 1, oura corp. made a sale of $ 450,000 to stratus, inc. on account. terms of the sale were 2/10, n/30. stratus makes payment on july 9. oura uses the net method when accounting for sales discounts. ignore cost of goods sold and the reduction of inventory. a. prepare all oura's journal entries. b. what net sales does oura report?
Answers: 2
Business, 22.06.2019 12:30
True or false entrepreneurs try to meet the needs of the marketplace by supplying a service or product
Answers: 1
Business, 22.06.2019 14:30
The face of a company is often that of the lowest paid employees who meet the customers. select one: true false
Answers: 1
Business, 22.06.2019 19:10
Coca-cola was primarily known for its core competencies in marketing, bottling, and distributing aerated drinks. however, with the success of gatorade, coca-cola developed competencies in the development and marketing of its own sports drink, powerade. which of the following is true of coca-cola? a. it is leveraging existing core competencies to improve current market position. b. it is building new core competencies to protect and extend its current market position. c. it is redeploying and recombining existing core competencies to compete in markets of the future. d. it is targeting the chasm between the early adopter and early majority market segment.
Answers: 1
You know the right answer?
Morgan (age 45) is single and provides more than 50% of the support of Tammy (a family friend), Jen...
Questions
Advanced Placement (AP), 21.10.2019 19:10
Biology, 21.10.2019 19:10
English, 21.10.2019 19:10
History, 21.10.2019 19:10
Computers and Technology, 21.10.2019 19:10
Mathematics, 21.10.2019 19:10
History, 21.10.2019 19:10
Mathematics, 21.10.2019 19:10
Mathematics, 21.10.2019 19:10
Mathematics, 21.10.2019 19:10
