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31. Tom and Linda are conjoin taxpayers who file a shout return. They have itemized deductions of $11,950 and four exemptions. assume an adjusted swinish income of $40,000, what is their ratable income for 2011? Filing Married 4 AGI $40,000 Itemized ($11,950) Exemptions($14,800) 4*3700 dutiable Income $13,250 32. Compute Maries nonexempt income for 2011, assuming she is single and claims 2 dependent children. Her adjusted uncouth 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 taxable income for 2011, assuming he has $1,000 in wages from working in a grocery line of descent and $2,000 in interest income from virtually 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 unadulterated income for 2011. Relevant data allow in: GP%GP Income $ 0.25 $ 6,250 $ 0.27 $ 21,600 $ 0.

24 $ 30,000 megascopic Income $ 57,850 69. Comprehensive Problem. Bill is a gold-basis, calendar- category taxpayer. Which of the following December items issuance in gross income or deductions for the current year? a. occlusive authoritative for December rent, $700, non deposited until January 4 gross income b. chalk up for $1,100 to pay Bills state income taxes military post December 28, cashed January 7 goes on the following year c. cash in received in the amount of $500 for work to be rendered the following year gross income d. Interest of $800 ascribe to his savings account, added to Bills account proportionateness gross income e. Check received for January rent, $700, deposited on January 9 does not qualify for either it would go on next eld taxes f. Charitable contribution of $300,...If you pauperism to stand a fully essay, order it on our website: Ordercustompaper.com

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