Which one of the following taxpayers is not required to file a tax return for 2022?...
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Which one of the following taxpayers is not required to file a tax return for 2022? Adam is 36 years old, single, and working full-time remodeling and reselling old homes. During the year he sold a renovated home for a gain of $30,000. He also earned $5,000 of gambling winnings and sustained $6,000 of gambling losses. Becky is 21 years old, single, and working part-time as a sales associate for a national retail store. During the year, she earned $10,000 from her job. She also earned $40,000 from the sale of items obtained illegally from the store. Clark is 58 years old, single, and self-employed. During the year, he earned $2,000 from his self-employment activities. All of these taxpayers are required to file a tax return. Darlene is 42 years old, widowed, and the sole source of support for her two children. During the year she received life insurance proceeds from a policy on her husband's life of $1 million and interest income of $5,000. Which one of the following taxpayers is not required to file a tax return for 2022? Adam is 36 years old, single, and working full-time remodeling and reselling old homes. During the year he sold a renovated home for a gain of $30,000. He also earned $5,000 of gambling winnings and sustained $6,000 of gambling losses. Becky is 21 years old, single, and working part-time as a sales associate for a national retail store. During the year, she earned $10,000 from her job. She also earned $40,000 from the sale of items obtained illegally from the store. Clark is 58 years old, single, and self-employed. During the year, he earned $2,000 from his self-employment activities. All of these taxpayers are required to file a tax return. Darlene is 42 years old, widowed, and the sole source of support for her two children. During the year she received life insurance proceeds from a policy on her husband's life of $1 million and interest income of $5,000.
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Related Book For
Canadian Income Taxation Planning And Decision Making
ISBN: 9781259094330
17th Edition 2014-2015 Version
Authors: Joan Kitunen, William Buckwold
Posted Date:
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