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Author Question: In addition to Social Security benefits of $8,000, Mr. and Mrs. Wells have adjusted gross income of ... (Read 53 times)

azncindy619

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Question 1

In 2016, Richard, a single taxpayer, has adjusted gross income of $40,150. His AGI includes $4,000 of qualified dividends. Richard has no dependents and does not itemize deductions. What is his 2016 federal income tax?
◦ $3,406
◦ $4,024
◦ $4,054
◦ $4,006

Question 2

In addition to Social Security benefits of $8,000, Mr. and Mrs. Wells have adjusted gross income of $32,000 and tax-exempt interest of $1,000.  They will file a joint return. The taxable portion of their Social Security benefits will be
◦ $0.
◦ $2,500.
◦ $4,000.
◦ $8,000.


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Marked as best answer by azncindy619 on Sep 13, 2020

fwbard

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azncindy619

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Reply 2 on: Sep 13, 2020
Great answer, keep it coming :)


anyusername12131

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

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