Business, 19.11.2020 18:20 cody665

Jim, 49, and Linda, 50, are married and will file a joint return. They have 2 children. Todd, 20 years old, and Traci, 15 years old; who both live with their parents all year. Todd has a part time job and Traci is still in high school. Jim and Linda provided more than 50% of the support for both children. Jim's wages were $26500; Linda's wages were $16805; Todd's gross income was $3100; Traci's was $0. Jim, Linda, Todd, and Traci had health care coverage all year throughJim's employer. Jim and Linda are not claiming any education or retirement savings contribution credits. Question 1: What is the sum of Jim and Linda's standard deduction and their exemptions? Question 2: What is the amount of Jim's and Linda's taxable income? Question 3: What is the amount of Jim's and Linda's earned income credit?

Answers: 2

Show answers

Another question on Business

Business, 21.06.2019 22:30

Emily sold the following investments during the year: stock date purchased date sold sales price cost basis a. 1,000 shares dot com co. 03-21-2007 02-04-2018 $20,000 $5,000 b. 500 shares big box store 05-19-2017 01-22-2018 $8,200 $7,500 c. 300 shares lotta fun, inc. 10-02-2017 09-21-2018 $3,000 $4,500 d. 700 shares local gas co. 06-17-2017 11-11-2018 $14,000 $17,000 for each stock, calculate the amount and the nature of the gain or loss.

Answers: 3

Answer

Business, 22.06.2019 11:50

Which of the following does not offer an opportunity for timely content? evergreen content news alerts content that suits seasonal consumption patterns content that matches a situational trigger content that addresses urgent pain points

Answers: 2

Answer

Business, 22.06.2019 14:40

Increases in output and increases in the inflation rate have been linked to

Answers: 2

Answer

Business, 22.06.2019 17:30

Palmer frosted flakes company offers its customers a pottery cereal bowl if they send in 3 boxtops from palmer frosted flakes boxes and $1. the company estimates that 60% of the boxtops will be redeemed. in 2012, the company sold 675,000 boxes of frosted flakes and customers redeemed 330,000 boxtops receiving 110,000 bowls. if the bowls cost palmer company $3 each, how much liability for outstanding premiums should be recorded at the end of 2012?

Answers: 2

Answer

You know the right answer?

Jim, 49, and Linda, 50, are married and will file a joint return. They have 2 children. Todd, 20 yea...

Questions