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Author Question: Carolyn, who earns $400,000, is required to pay John, her ex-husband, $200,000 as part of the ... (Read 79 times)

RYAN BANYAN

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Question 1

Carla redeemed EE bonds which qualify for the educational exclusion. The redemption consisted of $14,000 principal and $6,000 interest. The net qualifying educational expenses are $10,000. Her AGI is below the threshold for phase-out of the exclusion. The taxable interest is
◦ $0.
◦ $2,400.
◦ $3,000.
◦ $6,000.

Question 2

Carolyn, who earns $400,000, is required to pay John, her ex-husband, $200,000 as part of the property settlement as a result of their divorce. In turn, John transfers stock worth $50,000 to Carolyn. What is the amount of Carolyn's adjusted gross income for the year?
◦ $200,000
◦ $250,000
◦ $400,000
◦ $450,000


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Marked as best answer by RYAN BANYAN on Sep 13, 2020

laurnthompson

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RYAN BANYAN

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Reply 2 on: Sep 13, 2020
Gracias!


lindahyatt42

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Reply 3 on: Yesterday
:D TYSM

 

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