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Same as (c) except the taxpayer lived with his ex-spouse until August
and maintained the household for his married son and daughter-in-
law from September 1 to the end of the year
38) Julio and Martina are engaged and are planning to travel to Las
Vegas during the 2009 Christmas season and get married around the
end of the year. In 2009, Julio expects to earn $45,000 and Martina
expects to earn $15,000. Their employers have deducted the
appropriate amount of withholding from their paychecks throughout
the year. Neither Julio nor Martina has any itemized deductions. They
are trying to decide whether they should get married on December 31,
2009 or on January 1, 2010. What do you recommend? Explain your
answer (disregard the making work pay credit).
Chapter 3: Problems 35, 36, & 42
35) Determine the amount of taxable income that should be reported
by a cash-basis taxpayer in 2009 in each of the following independent
cases.
A taxpayer completes $500 of accounting services in December 2009
for a client who pays for the accounting work in January 2010.
A taxpayer is in the business of renting computers on a short-term
basis. On December 1, 2009, she rents a computer for a $200 rental fee
and receives a $500 deposit. The customer returns the computer and is
refunded the deposit on December 20, 2009.
Same facts as (b) except that the computer is returned on January 5,
2010.
On December 18, 2009, a landlord rents an apartment for $700 per
month and collects the first and last month’s rent up front. It is