Individual Income Taxes
43rd Edition
ISBN: 9780357109731
Author: Hoffman
Publisher: CENGAGE LEARNING - CONSIGNMENT
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Textbook Question
Chapter 3, Problem 6CPA
Bill and Anne Chambers are married and file a joint return. They have no children. Their college friend Ryan lived with them for the entire current tax year. Ryan is 40 years old and earned $2,000 at a part-time job and received $25,000 in municipal bond interest. Ryan is a citizen of the United States and is unmarried. Which of the following statements is true regarding claiming Ryan as a dependent on the Chamberses’ tax return?
- a. If Ryan earns $15,000 in self-employment income in addition to the part-time job and municipal bond interest, he will qualify as a dependent on the Chamberses’ tax return.
- b. Ryan qualifies as a dependent for the Chamberses under the qualifying child rules.
- c. As long as Ryan does not provide more than half of his own support, he qualifies as a dependent for the Chamberses under the qualifying relative rules because he lived with them for the entire year.
- d. As long as the Chamberses provide more than half of Ryan’s support, he qualifies as a dependent for the Chamberses under the qualifying relative rules.
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Chapter 3 Solutions
Individual Income Taxes
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 - Caden and Lily are divorced on March 3, 2018. For...Ch. 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 - Sam and Abby are dependents of their parents, and...Ch. 3 - Compute the 2019 standard deduction for the...Ch. 3 - Paul and Sonja, who are married, had itemized...Ch. 3 - Compute the 2019 tax liability and the marginal...Ch. 3 - In 2019, Simon, age 12, has interest income of...Ch. 3 - Prob. 25CECh. 3 - During the year, Tamara had capital transactions...Ch. 3 - Compute the taxable income for 2019 in each of the...Ch. 3 - Compute the taxable income for 2019 for Emily on...Ch. 3 - Compute the taxable income for 2019 for Aiden on...Ch. 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 - Taylor, age 18, is claimed as a dependent by her...Ch. 3 - LO.4, 9 Walter and Nancy provide 60% of the...Ch. 3 - Prob. 39PCh. 3 - LO.1, 2, 3, 4, 5, 6 Morgan (age 45) is single and...Ch. 3 - Prob. 41PCh. 3 - LO.5, 6, 9 Roy and Brandi are engaged and plan to...Ch. 3 - In each of the following independent situations,...Ch. 3 - Prob. 44PCh. 3 - Nadia died in 2018 and is survived by her husband,...Ch. 3 - Paige, age 17, is a dependent of her parents....Ch. 3 - Prob. 47PCh. 3 - LO.8 During 2019, Inez (a single taxpayer) had the...Ch. 3 - During 2019, Inez (a single taxpayer) had the...Ch. 3 - Prob. 50PCh. 3 - Lance H. and Wanda B. Dean are married and live at...Ch. 3 - Prob. 52CPCh. 3 - Kathy and Brett Ouray married in 2001. They began...Ch. 3 - Prob. 2RPCh. 3 - Prob. 5RPCh. 3 - Prob. 1CPACh. 3 - Jane is 20 years old and is a sophomore at Lake...Ch. 3 - Prob. 3CPACh. 3 - Jeff and Rhonda are married and have two children,...Ch. 3 - Prob. 5CPACh. 3 - Bill and Anne Chambers are married and file a...Ch. 3 - Prob. 7CPACh. 3 - Heather is single and has one son, Rhett, who is...Ch. 3 - Prob. 10CPACh. 3 - Prob. 11CPA
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