South-Western Federal Taxation 2019: Individual Income Taxes (Intuit ProConnect Tax Online 2017 & RIA Checkpoint 1 term (6 months) Printed Access Card)
42nd Edition
ISBN: 9781337702546
Author: James C. Young, William H. Hoffman, William A. Raabe, David M. Maloney, Annette Nellen
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Question
Chapter 3, Problem 33P
To determine
Identify the number of dependents for the given situations.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Determine the number of dependents in each of the following independent situations: (for example, 1, 2, 3, and so on).
Dependents
a.
Reginald, a U.S. citizen and resident, contributes 100% of the support of his parents who are citizens of Canada and live there.
fill in the blank 1
b.
Pablo, a U.S. citizen and resident, contributes 100% of the support of his parents who are citizens of Panama. Pablo's father is a resident of Panama, and his mother is a legal resident of the United States.
fill in the blank 2
c.
Gretchen, a U.S. citizen and resident, contributes 100% of the support of her parents who are U.S. citizens but residents of Germany.
fill in the blank 3
d.
Elena is a U.S. citizen and a resident of Italy. Her household includes Carlos, a four-year-old adopted son who is a citizen of Spain.
Paul and Maggie are married and want to file a joint return.
Maggie is a U.S. citizen and has a valid Social Security number. Paul is a residentalien and has an ITIN. They resided in the United States all year with their children.
Paul and Maggie have two children, Cheryl, age 4, and Mike, age 15. Cheryl and Mikeare U.S. citizens and have valid Social Security numbers.
Paul earned $18,000 in wages.
Maggie earned $20,000 in wages.
In order to work, the Thomas's paid child and dependent care expenses of $3,500 fortheir daughter Cheryl to attend Busy Bee Child Care.
Paul and Maggie provided all of the support for their two children.
Paul and Maggie declined to receive advance payments for the Child Tax Credit.
5. How much of the child care expenses paid to Busy Bee Day Care are used tocalculate the refundable child and dependent care credit? $___________(Do not enter dollar signs, commas, periods, or decimal points in your answer.)
Clay and Marian are married and will file a joint return.
Marian is a U.S. citizen with a valid Social Security number. Clay is a resident alien with an Individual Taxpayer Identification Number (ITIN).
Marian worked in 2022 and earned wages of $32,000. Clay worked part-time and earned wages of $18,000.
The Washingtons have two children: Erin, age 12 and Jenny, age 18.
The Washingtons provided the total support for their two children, who lived with them in the U.S. all year. Erin and Jenny are U.S. citizens and have valid Social Security numbers.
8. The Washingtons do not qualify for the Earned Income Credit because Clay has an ITIN.
True
False
Chapter 3 Solutions
South-Western Federal Taxation 2019: Individual Income Taxes (Intuit ProConnect Tax Online 2017 & RIA Checkpoint 1 term (6 months) Printed Access Card)
Ch. 3 - Prob. 1DQCh. 3 - Which of the following items are inclusions in...Ch. 3 - Which of the following items are exclusions from...Ch. 3 - Prob. 4DQCh. 3 - In choosing between taking the standard deduction...Ch. 3 - Prob. 6DQCh. 3 - Prob. 7DQCh. 3 - Prob. 8DQCh. 3 - Prob. 9DQCh. 3 - Prob. 10DQ
Ch. 3 - Prob. 11DQCh. 3 - Prob. 12DQCh. 3 - Prob. 13DQCh. 3 - Prob. 14DQCh. 3 - Prob. 15DQCh. 3 - Prob. 16DQCh. 3 - Prob. 17DQCh. 3 - Prob. 18DQCh. 3 - During the year, Brandi had the following...Ch. 3 - Prob. 20CECh. 3 - Prob. 21CECh. 3 - Prob. 22CECh. 3 - Prob. 23CECh. 3 - Prob. 24CECh. 3 - Prob. 25CECh. 3 - During the year, Tamara had capital transactions...Ch. 3 - Prob. 27PCh. 3 - Prob. 28PCh. 3 - Prob. 29PCh. 3 - Prob. 30PCh. 3 - Analyze each of the characteristics in considering...Ch. 3 - Prob. 32PCh. 3 - Prob. 33PCh. 3 - Prob. 34PCh. 3 - Prob. 35PCh. 3 - Prob. 36PCh. 3 - Prob. 37PCh. 3 - Prob. 38PCh. 3 - Prob. 39PCh. 3 - Prob. 40PCh. 3 - Prob. 41PCh. 3 - Prob. 42PCh. 3 - Prob. 43PCh. 3 - Prob. 44PCh. 3 - Prob. 45PCh. 3 - Prob. 46PCh. 3 - Prob. 47PCh. 3 - Prob. 48PCh. 3 - Prob. 49PCh. 3 - Prob. 50PCh. 3 - Prob. 51CPCh. 3 - Prob. 52CPCh. 3 - Prob. 1RPCh. 3 - Prob. 2RPCh. 3 - Prob. 4RPCh. 3 - Prob. 1CPACh. 3 - Jane is 20 years old and is a sophomore at Lake...Ch. 3 - Prob. 3CPA
Knowledge Booster
Similar questions
- Clay and Marian are married and will file a joint return. Marian is a U.S. citizen with a valid Social Security number. Clay is a resident alien with an Individual Taxpayer Identification Number (ITIN). Marian worked in 2022 and earned wages of $32,000. Clay worked part-time and earned wages of $18,000. The Washingtons have two children: Erin, age 12 and Jenny, age 18. The Washingtons provided the total support for their two children, who lived with them in the U.S. all year. Erin and Jenny are U.S. citizens and have valid Social Security numbers. 7. Jenny qualifies the Washingtons for the Credit for Other Dependents. t farrow_forwardAdam and Lisa are married and want to file a joint return.• Adam is a U.S. citizen and has a valid Social Security number. Lisa is a resident alien and hasan ITIN. They resided in the United States all year with their children.• Adam and Lisa have two children, Maria, age 11, and Luis, age 17. Maria and Luis are U.S.citizens and have valid Social Security numbers.• Adam earned $22,000 in wages.• Lisa earned $20,000 in wages.• In order to work, the Garcias paid $2,000 to their son Luis to care for Maria after school.• Adam and Lisa provided all of the support for their two children. 4. What is the maximum amount Adam and Lisa are eligible to claim for the child tax credit? 5. The Garcias qualify for the child and dependent care credit.arrow_forwardColeen is a citizen and bona fide resident of Ireland. During the current year, she received the following income: Cash dividends of $2,000 from a U.S. corporation's stock. Interest of $1,000 on a U.S. corporation bond. Royalty of $100,000 from a U.S. corporation for use of a patent she developed. Rent of $3,000 from U.S. individuals renting her cottage in Maine. Identify the U.S. withholding tax rate on the payment of each item of income under the U.S.–Ireland income tax treaty and cite the appropriate treaty article. You can access the 1997 U.S.–Ireland income tax treaty on the IRS website, www.irs.gov. Note: Leave no answer blank. Enter zero if applicable.arrow_forward
- Abel and Loni adopted a boy (a U.S. citizen) during the current tax year and incurred a total of $16,425 in qualified adoption expenses. Abel and Loni have modified AGI of $227,500. What is the amount of adoption credit they can take?arrow_forwardHelena is a U.S. citizen and a CPA who moved to London, England, three years ago to work for a British company. This year, she spent the entire year in London and earned a salary of $131,600. How much of her salary will she be allowed to exclude from gross income in the United States? $19,436 $120,000 $108,600 $101,600 All of her salary is included in gross income.arrow_forwardEEE, Filipino, residing in Toronto, made the following donations during the calendar year 2020: To his brother in Canada, a Volvo car valued at P10,000,000. Donor’s tax paid to the Canadian Government amounted to P60,000. To his sister in the United States, a house and lot valued at P20,000,000. His sister was to assume the mortgage on the house and lot amounting to P5,000,000. The donor’s tax paid to the US Government amounted to P80,000. To his cousin in the Philippines, shares of stock of Kensington Corporation, a Philippine corporation, valued at P7,000,000. Round your answer to the nearest peso. (e.g. 101.50 = 102) How much is the donor’s tax due after considering the credit for the taxes paid in Canada and in United States?arrow_forward
- Amir, an Indian citizen, who married a beautiful Filipina wife, owns a building in the U.S. and leases the same to Filipino residents. Amir has his residence in the Philippines and all his children are studying in PWC. How would you classify Amir as a taxpayer? How would you consider the rent income? Is it earned from within or outside the Philippines? Explain your answers. School: PWC of Davao Philippinesarrow_forwardTom and Rachel are married and living together in California. Their income is as follows: Tom's salary $40,000 Rachel's salary 30,000 Dividends (Tom's property) 5,000 Dividends (Rachel's property) 3,000 Interest (community property) 4,000 Total $82,000 Question a)If Rachel files a separate tax return, she should report income of: Question b)If Tom and Rachel lived in Texas, what should Rachel report as income?arrow_forwardTom and Rachel are married and living together in California. Their income is as follows: Tom's salary $40,000 Rachel's salary 30,000 Dividends (Tom's property) 5,000 Dividends (Rachel's property) 3,000 Interest (community property) 4,000 Total $82,000 If Rachel files a separate tax return, she should report income of: $ ……………………… If Tom and Rachel lived in Texas, what should Rachel report as income?arrow_forward
- . Of the following individuals who would be a resident or deemed resident of Canada for tax purposes this year? Alex is a U.S. citizen who commutes each day to Canada for employment purposes. Bob is a U.S. citizen who lives in Canada during the week for employment purposes but returned to the U.S. on weekends to the house he shares with his wife and children. Charles is a Canadian citizen who lived in Toronto until March of last year, at which time he left for a 4-year aid-mission in Africa under an agreement with the Canadian International Development Agency. Derrick is a Canadian citizen who goes to school in the US for 8 months of each year but returns to Canada to live with his parents each summer. Alex and Bob Alex, Bob and Charles Bob, Charles and Derrick All of the above None of the abovEarrow_forwardSteve and his cousin Alex started an equal partnership business, Euca Sanitizers, motivated bythe increase in the recent demand for hand sanitizers during the COVID-19 pandemic. Steve lives inSydney and is an Australian resident for tax purposes. Alex however, is resident of New Zealand andis a foreign resident for tax purposes in Australia. On 30 June 2020, Euca Sanitizers partnership netincome is $300,000, 60% of this income is generated from selling hand sanitizers to Australian retailersand 40% comes outside Australia from sale of hand sanitizers to New Zealand retailers.Required:With reference to relevant provisions of ITAA 97/ITAA 36, discuss how the partnership income is taxedarrow_forwardSteve and his cousin Alex started an equal partnership business, Euca Sanitizers, motivated bythe increase in the recent demand for hand sanitizers during the COVID-19 pandemic. Steve lives inSydney and is an Australian resident for tax purposes. Alex however, is resident of New Zealand andis a foreign resident for tax purposes in Australia. On 30 June 2020, Euca Sanitizers partnership netincome is $300,000, 60% of this income is generated from selling hand sanitizers to Australian retailersand 40% comes outside Australia from sale of hand sanitizers to New Zealand retailers.Required:With reference to relevant provisions of ITAA 97/ITAA 36, discuss how the partnership income is taxed.( maximum 200 words).arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Individual Income TaxesAccountingISBN:9780357109731Author:HoffmanPublisher:CENGAGE LEARNING - CONSIGNMENT
Individual Income Taxes
Accounting
ISBN:9780357109731
Author:Hoffman
Publisher:CENGAGE LEARNING - CONSIGNMENT