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AleksAgata [21]
3 years ago
13

Camille Sikorski was divorced in 2017. She currently provides a home for her 15-year-old daughter Kaly. Kaly lived in Camille’s

home for the entire year, and Camille paid for all the costs of maintaining the home. She received a salary of $50,000 and contributed $4,000 of it to a qualified retirement account (a for AGI deduction). She also received $5,000 of alimony from her former husband (per divorce decree issued in 2017). Finally, Camille paid $15,100 of expenditures that qualified as itemized deductions. c. Assume the original facts but now suppose Camille’s daughter, Kaly, is 25 years old and a full-time student. Kaly’s gross income for the year was $5,100. Kaly provided $3,060 of her own support, and Camille provided $5,100 of support. What is Camille’s taxable income?
Business
1 answer:
Rudik [331]3 years ago
4 0

Answer:

Camille’s taxable income is $34 900.

Explanation:

Gross income(50 000+5 000)                  55000

For AGI deduction                                     (4000)

ADJUSTED GROSS INCOME                    51 000

itemized Deduction                                    15 100

Taxable income(51000-15100)                   34 900

Therefore, Camille’s taxable income is $34 900.

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8 0
1 year ago
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rises whenever the debt rises

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The Debt to GDP ratio is a financial metric that compares the debt of a country to its GDP It measures the ability of a country to repay its debt using its GDP

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6 0
3 years ago
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8 0
3 years ago
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Answer:

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Explanation:

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