Use the provided Excel spreadsheet for the Critical Thinking Assignment for this week. In column A, you will find a list of transactions that may (or may not be deductible). Columns B through H have options from which you are to select the appropriate tax treatment of the transaction. Once you have made all of your selections, upload the completed spreadsheet for grading.

In each independent item below, assume that a single taxpayer earned $30,000 in W-2 income. Show the appropriate amount that should appear under each heading. More than one option may be selected Item Interest from Savings Account Dividends from stock investment Bad Debt from an Unpaid Loan Donation of automobile to charity Cash donation to church Cash donation to charity Student loan interest Alimony Loss on the sale of stock purchased 5 years ago Gain of the sale of stock purchased 6 years ago Traditional IRA contributions Net loss on real estate rental properties Home business (sole proprietorship) profit Moving expenses Amount $60 $500 $6,000 $600 $500 $3,000 $1,200 $12,000 $900 $1,200 $4,500 $6,000 $12,000 $2,500 Include in Gross Income Exclude form Gross Income Deduction for AGI Deduction from AGI Appears on Schedule A Appears on Schedule B Appears on Schedule D