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Complete the following problems in Chapter 3:
I:3-36
I:3-42
I:3-43
I:3-44
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I:2-30
Computation of Taxable Income. The following information relates to
Tom, a single taxpayer, age 18:
·
a.Compute Tom’s taxable income assuming he is self-
supporting.
·
b.Compute Tom’s taxable income assuming he is a dependent of
his parents.
I:2-31
Joint Versus Separate Returns. Carl and Carol have salaries of
$14,000 and $22,000, respectively. Their itemized deductions total
$8,500. They are married and both are under age 65.
·
a.Compute their taxable income assuming they file jointly.
·
b.Compute their taxable incomes assuming they file separate
returns and that Carol claims all of the itemized deductions.
I:2-33