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bazaltina [42]
3 years ago
14

Determine the amount of the standard deduction for each of the following taxpayers for tax year 2020: Christina, who is single.

Adrian and Carol, who are filing a joint return. Their son is blind. Peter and Elizabeth, who are married and file separate tax returns. Elizabeth will itemize her deductions. Karen, who earned $1,100 working a part-time job. She can be claimed as a dependent by her parents. Rodolfo, who is over 65 and is single. Bernard, who is a nonresident alien with U.S. income. Manuel, who is 70, and Esther, who is 63 and blind, will file a joint return. Herman, who is 75 and a qualifying widower with a dependent child.
Business
1 answer:
aivan3 [116]3 years ago
7 0

Answer:

Christina, who is single. STANDARD DEDUCTION FOR SINGLE FILER $12,400

Adrian and Carol, who are filing a joint return. Their son is blind. STANDARD DEDUCTION FOR MARRIED FILING JOINTLY $24,800

Peter and Elizabeth, who are married and file separate tax returns. Elizabeth will itemize her deductions. PETER'S STANDARD DEDUCTION IS $12,400 (MARRIED FILING SEPARATELY), WHILE ELIZABETH DOES GET A STANDARD DEDUCTION (SHE WILL ITEMIZE)

Karen, who earned $1,100 working a part-time job. She can be claimed as a dependent by her parents. STANDARD $1,100 DEDUCTION FOR A DEPENDENT.

Rodolfo, who is over 65 and is single. STANDARD DEDUCTION OF $14,050 FOR BEING SINGLE AND OVER 65.

Bernard, who is a nonresident alien with U.S. income.

NO STANDARD DEDUCTION

Manuel, who is 70, and Esther, who is 63 and blind, will file a joint return.

STANDARD DEDUCTION FOR MARRIED FILING JOINTLY $27,400, ONE BEING OVER 65 AND THE OTHER ONE BEING BLIND

Herman, who is 75 and a qualifying widower with a dependent child.

STANDARD DEDUCTION FOR MARRIED FILING JOINTLY $26,100 (QUALIFYING WIDOWER) AND ONE BEING OVER 65

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Explanation:

Please refer to the attached file

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10. Calculate the future value of $2000 in a. 5 years at an interest rate of 5% per year. b. 10 years at an interest rate of 5%
timofeeve [1]

Answer and Explanation:

The computation is shown below;

Given that,

Principal = P = $2000

As we know that

Future value (FV) = P × (1 + R)^n

here,

R = Rate of interest,

N = no of years

Now

A) N = 5, R = 5% = 0.05

FV = $2,000 × (1.05)^5

= $2,553

The Interest earned is

= $2,553 - $2,000

= $553

B) N = 10, R = 5% = 0.05

FV = $2,000 × (1.05)^10

= $3,258

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= $3,258 - $2,000

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C) N = 5, R = 10% = 0.10

FV = $2,000 × (1.10)^5

= $3,221

D) Option A

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3 years ago
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Answer:

correct answer is  A) line extension

Explanation:

solution

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3 years ago
Travis bought a share of stock for $31.50, the stock paid a dividend of $0.85, and Travis sold it six months later for $27.65. W
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Answer:

Dollar profit loss = $3

Holding period return = negative 9%

Explanation:

In order to find the dollar profit or loss return we will add the dividend and selling price because that the dividend plus the selling price is the cash that Travis receives or the positive cash and we will subtract the buying price from it because it is the negative cash flow. So we will add all the positive cash flows and subtract negative cash flow from it in order to find the dollar profit loss or return.

Selling price = 27.65

Dividend = 0.85

Selling price + Dividend= 28.5

Selling price = 31.50

Dollar profit loss or return = 28.50-31.5=-3

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