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31. Tom and Linda are married taxpayers who file a stick return. They have itemized deductions of $11,950 and four exemptions. Assuming an alter swinish income of $40,000, what is their nonexempt income for 2011? Filing Married 4 AGI $40,000 Itemized ($11,950) Exemptions($14,800) 4*3700 assessable Income $13,250 32. write in code Maries dutiable income for 2011, assuming she is single and claims two dependent children. Her adjusted pure(a) income is $70,000, and she has itemized deductions of $9,000. Filing Single 2 AGI $70,000 Itemized($9,000) Exemptions($11,000) 3*3700 dutiable Income$50,000 36. Compute Stanleys taxable income for 2011, assuming he has $1,000 in salary from working in a grocery store and $2,000 in interest income from some bonds he owns. Stanley, age 16, is claimed as a dependent on his parents return. AGI$3,000 Deductions($2,300) Larger income plus $300 Taxable Income $700 55. Mr. Z, a non-dealer, sold assets on an installme nt plan. Determine Mr. Zs sodding(a) income for 2011. Relevant data accept: GP%GP Income $ 0.25 $ 6,250 $ 0.27 $ 21,600 $ 0.

24 $ 30,000 Gross Income $ 57,850 69. Comprehensive Problem. Bill is a cash-basis, calendar-twelvemonth taxpayer. Which of the following celestial latitude items result in gross income or deductions for the current year? a. Check received for December rent, $700, not deposited until January 4 gross income b. Check for $1,100 to pay Bills state income taxes mail December 28, change January 7 goes on the following year c. cash in received in the amount of $500 for services to be rendered the foll! owing year gross income d. Interest of $800 credited to his savings account, added to Bills account balance gross income e. Check received for January rent, $700, deposited on January 9 does not qualify for either it would go on next years taxes f. Charitable contribution of $300,...If you want to stand a full essay, order it on our website: OrderEssay.net

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