What is the total dollar amount of personal and dependency exemptions which a married couple with two
Question:
What is the total dollar amount of personal and dependency exemptions which a married couple with two children (ages 11 and 14, both of which are qualified children) and $80,000 of adjusted gross income would deduct in 2019? What is the total child and other dependent credit that could be claimed (before any limitations)
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 40% (5 reviews)
0 Exemptions were sus...View the full answer
Answered By
Utsab mitra
I have the expertise to deliver these subjects to college and higher-level students. The services would involve only solving assignments, homework help, and others.
I have experience in delivering these subjects for the last 6 years on a freelancing basis in different companies around the globe. I am CMA certified and CGMA UK. I have professional experience of 18 years in the industry involved in the manufacturing company and IT implementation experience of over 12 years.
I have delivered this help to students effortlessly, which is essential to give the students a good grade in their studies.
3.50+
2+ Reviews
10+ Question Solved
Related Book For
Income Tax Fundamentals 2020
ISBN: 9780357108239
38th Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven Gill
Question Posted:
Students also viewed these Business questions
-
What is the total deduction for personal and dependency exemptions for the following taxpayers in 2013 if their AGI is $350,500? a. Married filing jointly with three dependents b. Single with no...
-
What is the total deduction for personal and dependency exemptions for the following taxpayers in 2016 if their AGI is $350,500? a. Married filing jointly with three dependents b. Single with no...
-
What is the total amount Bae will have to repay for his $25,000 student loan if the interest rate is 6 percent over 10 years? What is the total amount he would have to repay if the $25,000 was a...
-
In April 2016, Vanessa bought 100 shares in Entagon plc at a cost of 5 per share. The company went into liquidation and Vanessa received a first distribution of 40p per share in July 2020. The shares...
-
Explain the components of attitude, subjective norm, and perceived behavioral control of the theory of Planned Behavior.
-
What are the key factors driving organizational learning and knowledge management initiatives, and how can organizations foster a learning culture to enhance their competitive advantage in the...
-
What is the purpose of financial statements? Would you want to produce them even if they were not required, say, for entity tax reporting?
-
Caldwell Mining Co. acquired mineral rights for $127,500,000. The mineral deposit is estimated at 425,000,000 tons. During the current year, 42,000,000 tons were mined and sold. a. Determine the...
-
What is Debra's net worth if her assets total $40000, her gross income is $165000, her student loan debt is $70000 (she has no other debts), and her annual expenses (including taxes) total $88000?
-
Choice $693,000 $116,000 $112,000 $91,000 The following beginning and ending inventory balances apply to Holder Company: Beginning Ending $29,000 $27,000 37,000 25,000 Raw Materials Inventory Work in...
-
Jessica and Carl were married on July 1, 2019. What are their options for filing status for their 2019 taxes?
-
Jason and Mary Wells, friends of yours, were married on December 30, 2019. They know you are studying taxes and have sent you an e-mail with a question concerning their filing status. Jason and Mary...
-
The manufacturing records for Krazy Kayaks at the end of the 2014 fiscal year show the following information about manufacturing overhead: Requirements 1. How many machine hours did Krazy Kayaks use...
-
If you make multiple measurements of your height, you are likely to find that the results vary by nearly half an inch in either direction due to measurement error and actual variations in he ight....
-
Blades of grass grow from the bottom, so, as growth occurs, the top of the blade moves upward. During the summer, when your lawn is growing quickly, estimate this speed, in m/s. Make this estimate...
-
An object's average density p is defined as the ratio of its mass to its volume: p = M/V. The earth's mass is 5.94 10 24 kg, and its volume is 1.08 10 12 km 3 . What is the earth's average density?...
-
Design a Hilbert transformer of order \(M=98\) using a Type IV structure and the Chebyshev method, and compare your results with those from Exercise 5.22. Exercise 5.22. Design a Hilbert transformer...
-
Which of the following motions could be described by the motion diagram of Figure Q 1.20? A. A hockey puck sliding across smooth ice. B. A cyclist braking to a stop. C. A sprinter starting a race. D....
-
Lupulin Limited stocks a variety of sports equipment for sale to institutions. The following stock record card for basketballs was taken from the records at the December 31, 2017 year end: A physical...
-
Heineken N.V., a global brewer based in the Netherlands, reports the following balance sheet accounts for the year ended December 31, 2016 (euros in millions). Prepare the balance sheet for this...
-
Pete qualifies for a home office deduction. The amount of space devoted to business use is 300 square feet of the total 1,200 square feet in his apartment. Petes total rent for the year is $9,600,...
-
Randi qualifies for a home deduction. The amount of space devoted to business use is 400 square feet of the total 2,000 square feet of her home. Randi's mortgage interest and property taxes in total...
-
Ann is a self-employed restaurant critic who does her work exclusively from a home office. Anns income is $25,000 before the home office deduction this year. Her office takes up 200 square feet of...
-
Give an example of one piece of financial information that may be used differently for two stakeholders (users) and explain how it would be used and presented differently?
-
Complete common -size statements (balance sheets) using the data below on page 246. You will be required to create a spreadsheet in MS Excel to display the statements (balance sheets).? In a 1 to 2...
-
A sail boat in the Great South Bay travels 2 miles east and then 4 miles south to get to Fire Island. What is its distance and displacement?
Study smarter with the SolutionInn App