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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
Dependency Exemptions. Wes and Tina are a married couple and
provide financial assistance to several persons during the current year.
For the situations below, determine whether the individuals qualify as
Wes and Tina’s dependents. In all of the situations below, assume that
any dependency tests not mentioned have been met.
·
a.Brian is age 24 and Wes and Tina’s son. He is a full-time
student and lives in an apartment near campus. Wes and Tina provide
over 50% of his support. Brian works as a waiter and earned $4,200.