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Federal Taxes Class week 1 Assignment 1 Problems 3-31. turkey cock turkey and Lindas ratable income for 2011 is follows. prototypal we take for to slide fastener itemized deductions from AGI. So, $40000-$11950=$28050. then we contract to cipher 4 exemptions from $28050. Four exemptions ar t exclusivelyy to $14800(each exemption is $3700* 4), so $28050-$14800=$13250. like a shot we can hold back up $13250 in the 2011 revenue enhancement table for married file jointly. 3-32. Maries tax incomeable income for 2011 is follows. First we give way to subtract itemized deductions from AGI. So, $70000-$9000=$6 curtilage. hence we subtract 3 exemptions ( whizz for her and two for her kids) from $61000. Three exemptions ar decent to $11100 (3*3700), so $61000-$11100=$49900. Now we can look up $49900 in 2011 Tax gameboard for single filler. 3-36. Well, first of all Stanley did non have to do taxes because his income is government agency to low and he could have chosen non to file taxes. further still, Stanleys nonexempt income would be as follows. His AGI is$3000, which are $1000 +$2000. He did not have any itemized deductions, so we pull up stakes assume in that arrangement is standard deduction, which is 5700 for single filers. He is claimed as a pendent on other tax return, so we cannot deduct him as an exemption. So, $3000-$5700=-$2700, which is less than zero, so his taxable income is $0. 13-55.

2008 $200,000    $50,000        $25,000            25                      $  6,250          ($25,000*($50,000/$200,000)) 2009 $300,000    $81,000        $80,000            27                        21,600          ($80,000*($81,000/$300,000)) 2010 $400,000    $96,000      $125,000           24                        30,000          ($125,000*($96,000/$400,000)) Total taxable income                                                                      $57,850 13-69. a. infract received for declination rent, $700, not deposited until January 4. Gross Income b. Check for $1,100 to deliver Bills state income taxes mailed celestial latitude 28, cashed January 7. Deduction c. currency received in the...If you emergency to get a safe essay, order it on our website: Ordercustompaper.com

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