(SOLVED) Determine whether each of the following

taxpayers must file a

Determine whether each of the following taxpayers must file a return for 2011:a. Jamie is a
dependent who has wages of $3,700.b. Joel is a dependent who has interest income of
$1,200.c. Martin is self-employed. His gross business receipts are $24,000, and business
expenses are $24,300. His only other income […]

Martina is single and has two children in college. Matthew is a sophomore and Christine is in
her fifth year of college. Martina pays $3,600 in tuition and fees for Matthew, $700 for textbooks,
and $2,000 for his room and board.Christine’s tuition and fees are $4,800, her textbooks are
$550, […]

Miguel and Katrina have 2 children under age 17, have earned income of $16,000, and pay
$1,836 in Social Security tax. Their tax liability is $1,050 before the child credit.a. What amount
can they claim as a child credit, and what portion of the credit is refundable?b. Assume the
same […]

Neville and Julie are married and have two children ages 19 and 14. Their adjusted gross
income for the year is $85,000. What amount can they claim for the child credit?a. What amount
can they claim for the child credit if their children are ages 16 and 13?b. Assume the […]

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Anika and Jespar are married and have 2 children ages 16 and 14. Their adjusted gross income
for the year is $98,000. What amount can they claim for the child credit?a. What amount can
they claim for the child credit if their adjusted gross income is $117,600?b. What amount can […]

Michael owns a hair salon. During the current year, a tornado severely damages the salon and
destroys his personal automobile, which is parked outside. It costs Michael $12,000 to make the
necessary repairs to the salon. He had paid $21,500 for the automobile, which was worth
$17,100 before the tornado. […]

Lee is a college professor with an adjusted gross income of $32,000. Lee has a lot of bad luck
this year. First, a tornado blows the roof off his house, causing $4,900 in damage. His insurance
company reimburses him only $1,200 for the roof damage. Later in the year, he […]

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