ACC 307 help A Guide to career/Snaptutorial ACC 307 help A Guide to career/Snaptutorial | Page 9

Received repayment of $20,000 loan she made to her sister in 2009
(includes no interest)
20,000
State income taxes
(5,000)
Cindy’s AGI is:
7.
Millie, age 80, is supported during the current year as follows:
Percent of Support
Weston (a son)
20%
Faith (a daughter)
35%
Jake (a cousin)
25%
Brayden (unrelated close family friend)
20%
During the year, Millie lives in an assisted living facility. Under a
multiple support agreement, indicate which parties can qualify to
claim Millie as a dependent.
8. Which of the following is a deduction for AGI?
9. Emily, whose husband died in December 2012, maintains a
household in which her dependent mother lives. Which (if any) of the
following is her filing status for the tax year 2013? (Note: Emily is the
executor of her husband’s estate.)
10. Which of the following items is deductible?
11. Our tax laws encourage taxpayers to ____ assets that have
appreciated in value and ____ assets that have declined in value
12. Harry and Wanda were married in Texas, a community property
state, but moved to Virginia, a common law state. The calculation of
their income on a joint return