Jack and June are retired and receive $10,000 of social security benefits and taxable pensions totaling...

Jack and June are retired and receive $10,000 of social security benefits and taxable pensions totaling $25,000. They have been offered $20,000 for an automobile that they restored after they retired. They did most of the restoration work themselves and the sale will result in a gain of $12,000. What tax issues should Jack and June consider?

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ekkarill92 answered 1 year ago

Tax Drill - Social Security Benefits Determine the taxable amount of social security benefits for the...

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