4. What percentage of returns have a student loan interest deduction (calculated based on all returns...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
4. What percentage of returns have a student loan interest deduction (calculated based on all returns filed for that AGI level) for: a. Filers with AGI of $50,000 up to $75,000: 78410/548730-14.3% b. Why is the student loan interest deduction $0 for all returns with AGI of $200,000 or more? 3. What percentage of returns have a state and local income tax refund included in income (calculated based on all returns filed for that AGI level) for: a. Filers with AGI of $1 up to $10,000: 3734/459330=.8% b. Filers with AGI of $100,000 up to $200,000: 338339/663030-51% C. What is likely driving that difference? 4. What percentage of returns have a student loan interest deduction (calculated based on all returns filed for that AGI level) for: a. Filers with AGI of $50,000 up to $75,000: 78410/548730-14.3% b. Why is the student loan interest deduction $0 for all returns with AGI of $200,000 or more? 3. What percentage of returns have a state and local income tax refund included in income (calculated based on all returns filed for that AGI level) for: a. Filers with AGI of $1 up to $10,000: 3734/459330=.8% b. Filers with AGI of $100,000 up to $200,000: 338339/663030-51% C. What is likely driving that difference?
Expert Answer:
Answer rating: 100% (QA)
a Filers with AGI of 75000 up to 100000 82301760230108 The student loan interest deduction is a deduction that allows taxpayers to deduct up to 2500 i... View the full answer
Posted Date:
Students also viewed these finance questions
-
Assuming a Normal distribution, what percentage of returns are outside the negative two standard deviations from the mean? What is the mean of returns falling in this tail? (This is called the...
-
Discuss why the State and Local Income tax deduction is one of the most politically challenging tax reforms? Do you agree or disagree with the elimination of the state and local income tax deduction....
-
Federal state and local income taxes have been deductible since the inception of the federal income tax in 1913. Proponents of the elimination of the state and local income tax deduction argue that...
-
Codominance observable effect on the phenotype of a heter neither allele is recessive-both alleles are dominant. 6. Which of the genotypes results in a blood type that provides clear evidence of...
-
Why is it correct to conclude that all managers are involved in developing and implementing HRM activities and programs?
-
Who are the major suppliers of venture capital by type and size of commitment?
-
Between January and February 2023, the unemployment rate and the labor force participation rate both increased, while the employment population ratio remained unchanged and employment increased by...
-
The following stockholders equity accounts, arranged alphabetically, are in the ledger of Patel Corporation at December 31, 2012. Common Stock ($2 stated value) ..................$1,600,000 Paid-in...
-
The atomic number of element M, N, R, and T are 1, 8, 12 and 14 respectively. The element which can form ions by either losing or gaining electron(s) is M 11. A. B. N C R D. T 12. The atomic number...
-
Scientists have studied how snakes grip and climb ropes. In one study, they found that an important characteristic of a rope is its "compliance"--that is, how easily the rope, while under tension,...
-
This year Mary received a $200 refund of state income taxes that she deducted on her tax return last year. Mary included a total of $4,000 of state income taxes when she itemized deductions last...
-
Question 2 Not yet answered Marked out of 7.00 Suppose that the following class is built in the Models folder, build a controller and the view(s) so that the user can enter two integer numbers and...
-
6:34 Interacting with Software - 4 of 5 QUESTION 4/5 What is GIT's function? 1 point Helps keep track of changes made to directories and files O Allows the computer to interact with hardware Helps...
-
Exercise 8: Consider a boolean function F(x, y, z) that outputs one when xyz2 is odd and zero otherwise. (a) Write the truth table for F(x, y, z) (b) Find a boolean expression for F(x, y, z) (c) Draw...
-
Q7. Given X = {C, E,!} with the probability (0.4, 0.5, 0.1), "!" is a termination character. (1) Encode the sequence: "EC!" by using Arithmetic coding. (2) Encode the sequence: "EC!" by using Huffman...
-
The primary purpose of the IT department is to ensure the company has the latest version of the software being utilized across the enterprise. O True O False
-
Let's Roll Inc. and Ride 4 Ever Cycles Inc. are two competing motorcycle companies. While Let's Roll's Cost of goods sold/Revenue is 63 4 percent, the Cost of goods sold/Revenue of Ride 4 Ever Cycles...
-
Annual dividends of ATTA Corp grew from $0.96 in 2005 to $1.76 in 2017. What was the annual growth rate?
-
The following are some costs incurred by a shoe manufacturer. Decide whether each one is a fixed cost or a variable cost or has some element of both. (a) The cost of leather; (b) The fee paid to an...
-
Why does the marginal cost curve pass through the bottom of the average cost curve and the average variable cost curve?
-
Outline the main factors that might influence the size of the profit mark-up set by a business.
Study smarter with the SolutionInn App