Question: Please answer part d. Problem 3-29 (LO. 1) Compute the taxable income for 2021 for Aiden on the basis of the following information. Aiden is

 Please answer part d. Problem 3-29 (LO. 1) Compute the taxableincome for 2021 for Aiden on the basis of the following information.Aiden is married but has not seen or heard from his wife

Please answer part d.

Problem 3-29 (LO. 1) Compute the taxable income for 2021 for Aiden on the basis of the following information. Aiden is married but has not seen or heard from his wife since 2019. Salary Interest on bonds issued by City of Boston $80,000 3,000 Interest on CD issued by Wells Fargo Bank 2,000 2,200 Cash dividend received on Chevron common stock Life insurance proceeds paid upon death of aunt (Aiden was the designated beneficiary of the policy) 200,000 100,000 Inheritance received upon death of aunt 5,000 Jackson (a cousin) repaid a loan Aiden made to him in 2015 (no interest was provided for) Itemized deductions (state income tax, property taxes on residence, interest on home mortgage, and charitable contributions) 9,700 Number of dependents (children, ages 17 and 18, and mother-in-law, age 70) 3 Age 43 Click here to access the standard deduction table to use, if required. a. Indicate whether the items are taxable or not taxable to Aiden. Cash dividend received on Chevron common stock Taxable Salary Taxable Not taxable Interest on bonds issued by City of Boston Life insurance proceeds Not taxable Interest on a CD issued by Wells Fargo Bank Taxable Inheritance received upon the death of his aunt Not taxable Proceeds from repayment of a loan Not taxable b. What is Aiden's filing status? Head of household C. Should Aiden itemize his deductions or take the standard deduction? He should take the standard deduction. d. Aiden's taxable income in 2021 is $ 66,200 X

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