Question: The problem is referring to the 2018 tax code. please write the correct calculation answers 7. Using the Tax Rate Schedules, compute the 2020 tax

The problem is referring to the 2018 tax code.

please write the correct calculation answers

7. Using the Tax Rate Schedules, compute the 2020 tax liability for each taxpayer

[Miles (age 42) is a surviving spouse and provides all of the support of his four minor children who live with him. He also maintains the household in which his parents live and furnished 60% of their support. Besides interest on City of Dallas bonds in the amount of $1,500, Miless father received $2,400 from a part-time job. Miles has a salary of $80,000, a short-term capital loss of $4,000, a cash prize of $1,000 from a church raffle, and itemized deductions of $9,500.]

8. Determine the number of dependency exemptions in each of the following independent situations

[Andy maintains a household that includes a cousin (age 12), a niece (age 18), and a son (age 26). All are full0time students. Andy furnishes all of their support.]

1

2

3

4

5

10. Determine the taxpayers gross income for tax purposes in each of the following situations.

[Olga needed $10,000 to make a down payment on her house. She instructed her broker to sell some stock to raise the $10,000. Olgas cost of the stock was $3,000. Based on her brokers advice, instead of selling the stock, she borrowed the $10,000 using the stock as collateral for the debt]

11.Determine the taxpayers gross income for tax purposes in each of the following situations.

[Olga owned a vacant lot that was zoned for residential housing. She spent $900 in attorney fees to get the property rezoned as commercial. The propertys value increased by $10,000 as a result of the rezoning.]

12 Determine Amos Seagulls gross income in each of the following cases:

[In the current year, Seagull Corporation purchased an automobile for $25,000. The company was to receive a $1,500 rebate from the manufacturer. However, the corporation directed that the rebate be paid to Amos, the corporations sole shareholder.]

13.Determine Amos Seagulls gross income in each of the following cases:

[Amos sold his corporation. In addition to the selling price of the stock, he received $50,000 for a covenant, not to a compete-an agreement that he will not compete with his former business for five years]

please answer all these questions within a HALF HOUR please answer all these its emergency thankyou

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