Laura is 29 years old. In 2013, she and her husband reported total AGI of $19,00
ID: 2708384 • Letter: L
Question
Laura is 29 years old. In 2013, she and her husband reported total AGI of $19,000, all of which was earned income. She is married and they have one dependent. What amount of earned income credit may she and her husband claim in 2013 if they file jointly?
Laura is 29 years old. In 2013, she and her husband reported total AGI of $19,000, all of which was earned income. She is married and they have one dependent. What amount of earned income credit may she and her husband claim in 2013 if they file jointly?Explanation / Answer
A 1. corporation is a reporting entity but not a tax-paying entity. a. True *b. False 2. Partnership capital gains and losses are allocated separately to each of the partners. *a. True b. False 3. Married taxpayers may double their standard deduction amount by filin g separate returns. a. True *b. False 4. An item is not included in gross income unless the tax law specifies that the item is subject to taxation. a. True *b. False 5. For taxpayers who do not itemize deductions, the standard deduction a mount is subtracted from the taxpayer's adjusted gross income. *a. True b. False 6. A taxpayer with self-employment income of $600 must file a tax retur n. *a. True b. False 7. A dependent child with earned income in excess of the available stan dard deduction amount must file a tax return. *a. True b. False 8. A single taxpayer, who is not blind and who is under age 65, with inc ome of $8,750 must file a tax return. a. True *b. False 9. If a taxpayer is due a refund, it will be mailed to the taxpayer rega rdless of whether he or she files a tax return. a. True *
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