ACC 401 Week 2 Assignment Chapter 4 problem 53 and problem 55 ( UOP )
9 . Question : A 37-year-old taxpayer with a dependent child and claiming head of household
status has received $ 21,000 in child support payments and earned wages of
$ 46,000 . Which is the simplest form this person canfile ?
10 . Question : The basic standard deduction in 2014 for a Head of Household taxpayer who is 41
years old and not blind is :
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ACC 401 Week 2 Assignment Chapter 4 problem 53 and problem 55 ( UOP )
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53 . Under the terms of a divorce decree executed May 1 , 2008 , Rob transferred a house worth $ 650,000 to his ex-wife , Linda , and was to make alimony payments of $ 3,000 per month . The property has a tax basis to Rob of $ 300,000 .
a . How much of this must be reported on Linda ’ s tax return ?
b . Of that amount , how much is taxable gain or loss that Linda must recognize related to the transfer of the house ?