subject
Business, 08.02.2021 18:40 naeaamm6981

Julie Anderson is a single parent and lives with her dependent daughter Alice who is 17-years old. Julie is a project manager and her W-2 wage is $75,200. Julie's father passed away on April 14. She inherited cash of $50,000 from her father and his baseball card collection, valued at $2,000. Every year she also receives interest income from a trust fund, which does not invest in municipal bondsor other tax-exempt securities. She took the standard deduction on her 2018 federal tax return. Her 2019 filing status is head of household. She also has the following items for 2019:Interest income from the trust fund……. $2,000Ordinary dividend income$500(All the dividends are qualified for the 15% tax rate)She also bought 50 shares Apple Inc. stock (AAPL) when the price was $100 per share. AAPL's market closing price for December 2019 is $250 per share. During the year she went to Vegas and won $ 1,300 in a poker game. However, she lost $2,000 at other casinos. She also provided the following information:Illinois state income tax refund………….. $ 250Federal income tax refund……………… $2,400Child support from her ex-husband…….. $6,000Alimony payment from her ex-husband. Their divorce was finalized on August 15, 2019…..$12,000During the year she received $4,000 insurance payout from AFLAC due to a temporary disability. She bought the insurance policy herself. In addition, she also provided the following information:State income tax withheld from her paycheck…………………. .$ 3,200Federal income tax withheld from her paycheck………………. $ 9,000Social security tax paid as an employee $ 5,640Home mortgage loan interest………………… $ 5,500Real estate tax on her house………………… $ 4,000Personal-use car loan interest……………….. $ 2,000She also paid $2,000 of qualified student loan interest. Ms. Anderson had a medical procedure and incurred qualified medical costs of $30,000. Her health insurance policy pays 80% of the medical cost and Julie paid the remaining 20% out of her own pocket. Her car was completely damaged in hurricane Hana, a federally declared natural disaster. Before the disaster the car has a fair market value of $12,000. She bought the car for $25,000 when it was new. Schedule A LIne 4 (Medical and Dental) ?Schedule A Line 15 (Deductible Casualty Loss)?Schedule-A Total Itemized Deductions ?

ansver
Answers: 3

Another question on Business

question
Business, 22.06.2019 12:30
Sales at a fast-food restaurant average $6,000 per day. the restaurant decided to introduce an advertising campaign to increase daily sales. to determine the effectiveness of the advertising campaign, a sample of 49 days of sales were taken. they found that the average daily sales were $6,300 per day. from past history, the restaurant knew that its population standard deviation is about $1,000. if the level of significance is 0.01, have sales increased as a result of the advertising campaign? multiple choicea)fail to reject the null hypothesis.b)reject the null hypothesis and conclude the mean is higher than $6,000 per day.c)reject the null hypothesis and conclude the mean is lower than $6,000 per day.d)reject the null hypothesis and conclude that the mean is equal to $6,000 per day.expert answer
Answers: 3
question
Business, 22.06.2019 13:40
Randall's, inc. has 20,000 shares of stock outstanding with a par value of $1.00 per share. the market value is $12 per share. the balance sheet shows $42,000 in the capital in excess of par account, $20,000 in the common stock account, and $50,500 in the retained earnings account. the firm just announced a 5 percent (small) stock dividend. what will the balance in the retained earnings account be after the dividend?
Answers: 1
question
Business, 22.06.2019 20:00
After testing its water, a city water department issues a report to the related citizens, noting what chemicals have been identified, their doses, and the estimated risks of exposure at these levels. this report represents a type of
Answers: 1
question
Business, 22.06.2019 20:40
Consider an economy where the government's budget is initially balanced. the production function, consumption function and investment function can be represented as follows y equals k to the power of alpha l to the power of 1 minus alpha end exponent c equals c subscript 0 plus b left parenthesis y minus t right parenthesis i equals i subscript 0 minus d r suppose that taxes increase. what happens to the equilibrium level of output?
Answers: 1
You know the right answer?
Julie Anderson is a single parent and lives with her dependent daughter Alice who is 17-years old. J...
Questions
question
Mathematics, 05.05.2020 11:40
question
Social Studies, 05.05.2020 11:40
question
Computers and Technology, 05.05.2020 11:40
question
English, 05.05.2020 11:40
Questions on the website: 13722367