Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Taxation Expert

Evan James Dawson divorced in 2004 and has a son, Noah, who lived with him all year.

a) Evan gives all of the cost of keeping up the home.

b) Noah provided less than 50 percent of his own support.

c) Evan did not itemize deductions preceding year.

In the year 2012, Noah was a third-year student at Brown College. Noah lived at home with Evan while attending classes, and is pursuing a degree in Computer Science. Evan spent $634 on course-related books and paid tuition as reported on Form 1098-T. Noah’s total tuition was $11,800, however he received a $9,000 scholarship and subsidized loans in the amount of $2,800. Noah doesn’t have a felony drug conviction.

Evan desires to know if he has sufficient deductions to itemize (he did not itemized in the preceding year). Suppose that Evan will deduct state income tax rather than general sales tax. He gives you receipts, statements and cancelled checks for the given items he would like to deduct:

1) Unreimbursed doctor bills for Evan for $300

2) Unreimbursed doctor bills for Noah for $500

3) Unreimbursed prescription drugs for $1,400

4) Unreimbursed nonprescription herbal supplements for $300

5) Cancelled check for a donation to the United Way for $100

6) Evan states you that he as well gave $20 to a homeless man

7) The statement from his church showing donations of $780

8) The receipt from a Goodwill drop-off center for the donation of a table, refrigerator and stove; they were in good, used condition and had a thrift shop value of $130

9) Form 1098 exhibiting qualified mortgage insurance premiums, interest and real estate taxes paid.

10) Evan bought a $2 lottery ticket every week, for a total of $104, however he had no winnings.

11) Evan never received any distributions from his 401(k) or any other retirement plan.

Taxation, Accounting

  • Category:- Taxation
  • Reference No.:- M971

Have any Question? 


Related Questions in Taxation

Consolidated tax return with intercompany

Consolidated Tax Return with Intercompany Transactions ParentCo and SubCo are calendar year corporations that keep their respective books on the accrual basis. The companies have taxable income of $200,000 and $250,000, ...

Assignemnt corporation tax returnrequiredbull using the

Assignemnt: CORPORATION TAX RETURN Required: • Using the information provided below, complete Salt Source Inc.'s (SSI) 2010 Form 1120S. Also complete Kim Bentley's Schedule K-1. • Form 4562 for depreciation is not requir ...

Assignment tax issues associated with financial

Assignment: Tax Issues Associated with Financial Planning Understanding the tax consequences of your financial planning decisions is very important. These decisions may sometimes have life-long consequences in addition t ...

Truefalse on tax1 an s corporation cannot incur a tax

TRUE/FALSE ON TAX 1. An S corporation cannot incur a tax liability at the corporation level. a. True b. False 2. S corporation status allows shareholders to realize tax benefits from corporate losses immediately (assumin ...

Criterion 11 which of the following is not a primary tax

Criterion 1 1. Which of the following is NOT a primary tax authority? a. Treasury Regulation b. Revenue Ruling c. a Tax Court Memorandum decision d. an IRS publication 2. Congress' authority to enact an income tax was es ...

Discussion questions1 explain congress intent for enacting

DISCUSSION QUESTIONS 1. Explain Congress' intent for enacting the AMT. 2. Define the following terms relating to the AMT: a. Tax preference item b. AMT adjustment item c. Adjusted current earnings d. Alternative minimum ...

Financial cost tax accounting assignmentlength 400-500

Financial, Cost, Tax Accounting Assignment Length: 400-500 words including a chart Description Knowing that the company's former CFO and CEO not only got in trouble for fiduciary responsibility violations but IRS issues ...

Assignmentchapter 5problem 24at the start of the current

Assignment CHAPTER 5 PROBLEM # 24 At the start of the current year, Blue Corporation (a calendar year taxpayer) has accumulated E & P of $100,000. Blue's current E & P is $60,000, and at the end of the year, it distribut ...

Tax research problem grayling companyi need to do a tax

TAX RESEARCH PROBLEM (Grayling Company) I need to do a tax research problem in the following way: Complete tax research on assigned tax problem utilizing the following tax research methodology, and communicate such in a ...

Assignment federal taxescongress has asked you to evaluate

Assignment: Federal Taxes Congress has asked you to evaluate the individual tax brackets in the federal tax code and make several recommendations to improve the fairness of the tax brackets. Using the Internet and Straye ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro