1 .Mr. and Mrs. Willet will file their 2022 tax return as married filing joint. They have...
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2.The phaseout range with regard to student loan interest deductibility is $70,000 - $85,000 for single taxpayers. Assume John is single, has AGI of $93,000 and paid $1,000 of interest on his student loans. How much student loan interest can John deduct for AGI?
3.During 2022, Marvin had the following transactions:
Salary | $90,000 |
Long term capital gain | 3,000 |
Short term capital loss | 8,000 |
Marvin's AGI is ?
4.Joe purchased a 20% interest in a partnership for $200,000. In 2022, the partnership generated $200,000 of taxable income, and Joe withdrew $10,000.
What is Joe's gross income from the partnership in 2022?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: