Question: The client you are assigned for your final return is Paige Turner. As an introduction to this client, your firm's tax manager tells you the
The client you are assigned for your final return is Paige Turner. As an introduction to this client, your firm's tax manager tells you the following information as he hands you the client's file with all of the data. The taxpayer is an employee at ASCI, a company that offers many fringe benefits. She is divorced and has two children. She received interest and dividend income, she sold stock during the year, she owns her own real estate business, and began renting out an inherited house during the year. In addition to her salary, self-employment income, portfolio income, and rental income, she is also a shareholder in an S corporation. She refinanced her home during the year, and she kept lots of receipts of expenses to deduct as itemized deductions. Because your manager knows that you are new at tax preparation, he also wants to be sure you can think critically since robots can perform simple data entry. Please take the critical thinking questions seriously
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