Question

In: Accounting

Which taxpayer(s) is/are required to file a federal income tax return for 2017? Willenda (32) has...

Which taxpayer(s) is/are required to file a federal income tax return for 2017? Willenda (32) has gross income of $13,350. She will file as head of household with one dependent. Jamison (68) has gross income of $11,900. He is single and has no dependents. Marvin (37) and Joyce (35) have gross income of $20,780. They wish to file a joint return. Matt (67) and Trina (63) have gross income of $22,100. They wish to file a joint return.

Solutions

Expert Solution

All The Taxpayers Doesn't required to file the returns unless and otherwise it exceeds the Certain limits of Gross Income. The specified limits are clearly depends on the person age ,Income levels, Married or single and so on and see the following cases

Wilenda 32 has Gross Income Of $31,500, will file a head of household with one dependent

Ans:She is required to file the return as the gross income exceed the specified limits i.e $13,400. and her income is $31,500

Jamison(68) has gross income of $11,900

He is a single and has no depenedents

Ans:he is not required to file the return as the gross income doesn't exceed the specified limits i.e $11,950. and his income is $11,900

Marvin (37) and Joyce (35) have gross income of $20,780. They wish to file a joint return.

Ans:They are   not required to file the return as the gross income doesn't exceed the specified limits i.e $20,800. and their income is $20,780

Matt (67) and Trina (63) have gross income of $22,100. They wish to file a joint return.

Ans:They are   not required to file the return as the gross income doesn't exceed the specified limits i.e $23,300. and their income is $22,100


Related Solutions

Which taxpayer(s) is/are required to file a federal income tax return for 2017? Juan (28) has...
Which taxpayer(s) is/are required to file a federal income tax return for 2017? Juan (28) has gross income of $15,400. He is a qualifying widower with one dependent. Elaine (68) has gross income of $12,150. She is single and has no dependents. Randy (32) has gross income of $4,000. His filing status is married filing separately. Robert (65) and Maria (61) have gross income of $21,500. They wish to file a joint return.
Question 1 An unmarried dependent taxpayer of another taxpayer is required to file a 2017 federal...
Question 1 An unmarried dependent taxpayer of another taxpayer is required to file a 2017 federal income tax return if they are not blind and age __________ with gross income of _________. a)2; $1,075 (all from interest).   b)16; $1,000 ($800 wages plus $200 interest).   c)17; $1,075 ($700 wages plus $375 interest).   d)18; $6,300 (all from wages).   Question 2 Paul's unmarried daughter, Candace, lived with him in his home for the entire year. Paul is divorced. He owns his own home...
Required: Use the following information to complete Rhonda Hill's 2017 federal income tax return. If any...
Required: Use the following information to complete Rhonda Hill's 2017 federal income tax return. If any information is missing, use reasonable assumptions to fill in the gaps. The forms, schedules, and instructions can be found at the IRS website (www.irs.gov). The instructions can be helpful in completing the forms. Facts: 1. Rhonda Hill (unmarried) is employed as an office manager at the main office of Carter and Associates CPA firm. Rhonda lives in a home she purchased 20 years ago....
2. Federal law requires paid tax return preparers to electronically file Federal income tax returns if...
2. Federal law requires paid tax return preparers to electronically file Federal income tax returns if they file how many combined 1040, 1040A, 1040EZ and 1041 returns during the year? A. 5 or more B. 7 or more C. 9 or more D. 11 or more 3. All of the following are true regarding the Preparer Tax Identification Number (PTIN) except: A. New regulations require all paid tax return preparers and enrolled agents to obtain a Preparer Tax Identification Number...
1. George & Martha are married and file a joint income tax return. In 2017 the...
1. George & Martha are married and file a joint income tax return. In 2017 the couple had $ 250,000 of total income and $ 200,000 in taxable income. a. Calculate George & Martha’s Washington’s 2017 federal income tax liability (USE THE 2017 tax rate schedule in appendix D in your book). b. What is George & Martha’s marginal federal tax rate for 2017? c. What is the George & Martha’s average tax rate for 2017? d. What is the...
In May 2019, Hernando, a resident of California, has his 2017 Federal income tax return audited by the IRS.
In May 2019, Hernando, a resident of California, has his 2017 Federal income tax return audited by the IRS. An assessment of additional tax is made because he had inadvertently omitted some rental income. In October 2019, California audits his state return for the same year. Explain the coincidence.    
True or False 1. If a taxpayer and his spouse file a joint tax return and...
True or False 1. If a taxpayer and his spouse file a joint tax return and both have self-employment earnings from separate businesses, they can combine their self-employment earnings and report them on a single Schedule SE. 2. Education expenses of a sole proprietor are deductible for AGI as long as they are ordinary, necessary, and reasonable in amount. 3. Sole proprietors cannot deduct the per diem amount for lodging while away from home for business travel. 4. Under MACRS,...
For the following taxpayers, determine if they are required to file a tax return in 2020....
For the following taxpayers, determine if they are required to file a tax return in 2020. Ricko, single taxpayer, with gross income of $15,000. 2. Fantasia, head of household, with gross income of $17,500. 3. Ken and Barbie, married taxpayers with no dependents, with gross income of $20,000. 4. Dorothy and Rudolf, married taxpayers, both age 68, with gross income of $25,500. 5. Janyce, single taxpayer, age 73, with gross income of $13,500.
Required: Use the following information to complete Rhonda Hill’s 2018 federal income tax return. If any...
Required: Use the following information to complete Rhonda Hill’s 2018 federal income tax return. If any information is missing, use reasonable assumption to fill in the gaps. The forms, schedules and instruction can be found at the IRS website. The instruction can e helpful in completing the forms. Facts Rhonda Hill (unmarried) is employed as an office manager at the amin office of Carter and Associates CPA firm. Rhonda lives in a home she purchased 20 years ago. Rhonda’s older...
Required: Use the following information to complete Armando and Lourdes Gonzales’s 2016 federal income tax return....
Required: Use the following information to complete Armando and Lourdes Gonzales’s 2016 federal income tax return. If information is missing, use reasonable assumptions to fill in the gaps. You may need the following forms and schedules to complete the project: Form 1040, Schedule A, Schedule B, Schedule C, Schedule D, Schedule E, Schedule SE, Form 2106-EZ, Form 4562 (for the dental practice), Form 4562 (for the rental property), Form 4797, Form 8863, Form 8949. Facts: Armando Z. and Lourdes K....
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT