Compute the taxable income for 2023 in each of the following independent situations: Aaron and Michele, ages 40 and 41, respectively, are married and file a joint return. In addition to four dependent children, they have AGI of $125,000 and itemized deductions of $29,000. Sybil, age 40, is single and supports her dependent parents who live with her, as well as her grandfather who is in a nursing home. She has AGI of $80,000 and itemized deductions of $8,000. Scott, age 49, is a surviving spouse. His household includes two unmarried stepsons who qualify as his dependents. He has AGI of $76,800 and itemized deductions of $10,100. Amelia, age 33, is an abandoned spouse who maintains a household for her three dependent children. She has AGI of $58,000 and itemized deductions of $10,650. Chang, age 42, is divorced but maintains the home in which he and Lei, his daughter, live. Lei is single and qualifies as Chang’s dependent. Chang has AGI of $65,400 and itemized deductions of $14,200.

Compute the taxable income for 2023 in each of the following independent situations: Aaron and Michele, ages 40 and 41, respectively, are married and file a joint return. In addition to four dependent children, they have AGI of $125,000 and itemized deductions of $29,000. Sybil, age 40, is single and supports her dependent parents who live with her, as well as her grandfather who is in a nursing home. She has AGI of $80,000 and itemized deductions of $8,000. Scott, age 49, is a surviving spouse. His household includes two unmarried stepsons who qualify as his dependents. He has AGI of $76,800 and itemized deductions of $10,100. Amelia, age 33, is an abandoned spouse who maintains a household for her three dependent children. She has AGI of $58,000 and itemized deductions of $10,650. Chang, age 42, is divorced but maintains the home in which he and Lei, his daughter, live. Lei is single and qualifies as Chang’s dependent. Chang has AGI of $65,400 and itemized deductions of $14,200.

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter9: Individuals As Taxpayers

Section: Chapter Questions

Problem 19P

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Question

Compute the taxable income for 2023 in each of the following independent situations:




Aaron and Michele, ages 40 and 41, respectively, are married and file a joint return. In addition to four dependent children,
they have AGI of $125,000 and itemized deductions of $29,000.





Sybil, age 40, is single and supports her dependent parents who live with her, as well as her grandfather who is in a nursing
home. She has AGI of $80,000 and itemized deductions of $8,000.





Scott, age 49, is a surviving spouse. His household includes two unmarried stepsons who qualify as his dependents. He has
AGI of $76,800 and itemized deductions of $10,100.





Amelia, age 33, is an abandoned spouse who maintains a household for her three dependent children. She has AGI of $58,000
and itemized deductions of $10,650.





Chang, age 42, is divorced but maintains the home in which he and Lei, his daughter, live. Lei is single and qualifies as
Chang’s dependent. Chang has AGI of $65,400 and itemized deductions of $14,200.