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Federal Taxes Class week 1 Assignment 1 Problems 3-31. tom turkey and Lindas n unityxempt income for 2011 is follows. inaugural we take for to postal code itemized deductions from AGI. So, $40000-$11950=$28050. then we moderate to start out 4 exemptions from $28050. Four exemptions be t wholey to $14800(each exemption is $3700* 4), so $28050-$14800=$13250. at present we can look up $13250 in the 2011 measure table for married file jointly. 3-32. Maries revenueable income for 2011 is follows. First we take over to subtract itemized deductions from AGI. So, $70000-$9000=$6 g-force. therefore we subtract 3 exemptions ( one for her and two for her kids) from $61000. Three exemptions atomic number 18 decent to $11100 (3*3700), so $61000-$11100=$49900. Now we can look up $49900 in 2011 Tax submit for single filler. 3-36. Well, first of all Stanley did non have to do taxes because his income is guidance to low and he could have chosen non to file taxes. precisely still, Stanleys ratable income would be as follows. His AGI is$3000, which are $1000 +$2000. He did not have any itemized deductions, so we get out assume in that spatial relation is standard deduction, which is 5700 for single filers. He is claimed as a hooklike on other tax return, so we cannot deduct him as an exemption. So, $3000-$5700=-$2700, which is less than zero, so his taxable income is $0. 13-55.

2008 $200,000    $50,000        $25,000            25                      $  6,250          ($25,000*($50,000/$200,000)) 2009 $300,000    $81,000        $80,000            27                        21,600          ($80,000*($81,000/$300,000)) 2010 $400,000    $96,000      $125,000           24                        30,000          ($125,000*($96,000/$400,000)) Total taxable income                                                                      $57,850 13-69. a. cheque received for declination rent, $700, not deposited until January 4. Gross Income b. Check for $1,100 to comport Bills state income taxes mailed celestial latitude 28, cashed January 7. Deduction c. immediate payment received in the...If you urgency to get a encompassing essay, order it on our website: Ordercustompaper.com

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