Which one of the following taxpayers is not required to file a tax return for 2022?...
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Which one of the following taxpayers is not required to file a tax return for 2022? Adam is 36 years old, single, and working full-time remodeling and reselling old homes. During the year he sold a renovated home for a gain of $30,000. He also earned $5,000 of gambling winnings and sustained $6,000 of gambling losses. Becky is 21 years old, single, and working part-time as a sales associate for a national retail store. During the year, she earned $10,000 from her job. She also earned $40,000 from the sale of items obtained illegally from the store. Clark is 58 years old, single, and self-employed. During the year, he earned $2,000 from his self-employment activities. All of these taxpayers are required to file a tax return. Darlene is 42 years old, widowed, and the sole source of support for her two children. During the year she received life insurance proceeds from a policy on her husband's life of $1 million and interest income of $5,000. Which one of the following taxpayers is not required to file a tax return for 2022? Adam is 36 years old, single, and working full-time remodeling and reselling old homes. During the year he sold a renovated home for a gain of $30,000. He also earned $5,000 of gambling winnings and sustained $6,000 of gambling losses. Becky is 21 years old, single, and working part-time as a sales associate for a national retail store. During the year, she earned $10,000 from her job. She also earned $40,000 from the sale of items obtained illegally from the store. Clark is 58 years old, single, and self-employed. During the year, he earned $2,000 from his self-employment activities. All of these taxpayers are required to file a tax return. Darlene is 42 years old, widowed, and the sole source of support for her two children. During the year she received life insurance proceeds from a policy on her husband's life of $1 million and interest income of $5,000.
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Answer clark is 58 year old single and self employed during the year he earn 2000 from his self e... View the full answer
Related Book For
Canadian Income Taxation Planning And Decision Making
ISBN: 9781259094330
17th Edition 2014-2015 Version
Authors: Joan Kitunen, William Buckwold
Posted Date:
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