1) Eman, who is 68 years old and married, retired on July 1, 2019. Her current...

1) Eman, who is 68 years old and married, retired on July 1, 2019. Her current year income is shown below.

Salary (prior to retirement) $ 15,000

Pension payments {all taxable) 14,000

Dividends 2,000

Tax-exempt bond interest 3,000

Social security benefits 5,000

Assume Eman has no deductions for adjusted gross income. The amount of social security benefits that Eman and her husband must include in taxable income on a joint return for 2019:

	A.	$4,250.
	B.	$5,000.
	C.	some other amount.
	D.	$2,2250.
	E.	$2,500.

2)

Naser and Suzan, who are married and file a joint return, have AGI for the current year (2019) of $42,000. In addition,they received tax-exempt interest income of $6,000 and Social Security benefits of $15,000. The Social Security benefitsto be excluded from Naser and Suzan’s taxable income for 2019 is:

	A.	some other amount.
	B.	$2,250.
	C.	$7,500.
	D.	$12,750..
	E.	$15,000.

Expert Solution

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ekkarill92 answered 2 years ago

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