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book McGraw-Hill's Taxation of Individuals 3rd Edition by Brian Spilker,Benjamin Ayers,John Robinson,Edmund Outslay ,Ronald Worsham,John Barrick,Connie Weaver cover

McGraw-Hill's Taxation of Individuals 3rd Edition by Brian Spilker,Benjamin Ayers,John Robinson,Edmund Outslay ,Ronald Worsham,John Barrick,Connie Weaver

Edition 3ISBN: 978-0077328368
book McGraw-Hill's Taxation of Individuals 3rd Edition by Brian Spilker,Benjamin Ayers,John Robinson,Edmund Outslay ,Ronald Worsham,John Barrick,Connie Weaver cover

McGraw-Hill's Taxation of Individuals 3rd Edition by Brian Spilker,Benjamin Ayers,John Robinson,Edmund Outslay ,Ronald Worsham,John Barrick,Connie Weaver

Edition 3ISBN: 978-0077328368
Exercise 8
Camille Sikorski was divorced last year.She currently owns and provides a home for her 15-year-old daughter, Kaly, and 18-year-old son, Parker.Both children lived in Camille's home for the entire year and Camille paid for all the costs of the maintaining the home.She received a salary of $105,000 and contributed $6,000 of it to a qualified retirement account.She also received $10,000 of alimony from her former husband.Finally, Camille paid $5,000 of expenditures that qualified as itemized deductions.The current year is 2011.
a.What is Camille's taxable income
b.What would Camille's taxable income be if she incurred $14,000 of itemized deductions instead of $5,000
c.Assume the original facts except that Camille's daughter Kaly is 25 years old and a full-time student.Kaly's gross income for the year was $5,000.Kaly provided $3,000 of her own support and Camille provided $5,000 of support.What is Camille's taxable income
Explanation
Verified
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a.What is Camille's taxable income
$89,...

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McGraw-Hill's Taxation of Individuals 3rd Edition by Brian Spilker,Benjamin Ayers,John Robinson,Edmund Outslay ,Ronald Worsham,John Barrick,Connie Weaver
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