Solution-Find amend the 2010 return

Find amend the 2010 return

Assignment Help Taxation

Reference no: EM13505746

Constance, who is single, is in an automobile accident in 2010, and her car sustains $6,200 in damages. Because both drivers received tickets in the accident, Constance does not expect to recover any of the loss from her insurance company. Constance's 2010 AGI is $31,000. Her casualty loss is $3,000; she has other itemized deductions of $1,200. In 2011, Constance's insurance company reimburses her $2,800. Constance's 2011 AGI is $28,000. As a result, Constance must

A. amend the 2010 return to show the $200 loss.
B. do nothing and simply keep the $2,800.
C. amend the 2010 return to show $0 loss and file her 2011 return to show $200 loss.
D. do nothing to the 2010 return but report $2,800 of income on her 2011 return.

Reference no: EM13505746

Questions Cloud

Report for the chief accountant of the australian securities : Report for the Chief Accountant of the Australian Securities and Investments Commission how the respective components of the remuneration could be expected to align the interests of the managers

What is the angle of inclination : A physics student playing with an air hockey table (a frictionless surface) finds that if she gives the puck a velocity of 3.74 m/s along the length ( 1.76 m) of the table at one end, What is the angle of inclination

A practicing attorney habitually engages in the practice : A practicing attorney habitually engages in the practice of acting as surety on bail bonds in criminal cases, thereafter representing the individuals upon whose bond he acts as surety.

What is the equity at the end of the year : At the beginning of the year, Logan Comapny's assets are $200,000 and its equity is $150,000. During the year, assets increase $70,000 and liabilities increase $30,000. What is the equity at the end of the year?

Find amend the 2010 return : Constance, who is single, is in an automobile accident in 2010, and her car sustains $6,200 in damages. Because both drivers received tickets in the accident, Constance does not expect to recover any of the loss from her insurance company.

Obtain the magnitude of the magnetic force on the particle : A particle with a charge of +8.7 ?C and a speed of 45 m/s enters a uniform magnetic field whose magnitude is 0.35 T. find the magnitude of the magnetic force on the particle

Advise the board of directors : Advise the Board of Directors as to which of the three approaches to measuring performance is best for the organisation Cost Centre management

Does a lawyer duty of candour to a tribunal under texas : Does a lawyer's duty of candor to a tribunal under Texas Disciplinary Rule 3.03 require defense counsel in a criminal case to correct mistaken or inaccurate statements made in court by a prosecutor about prior convictions of the defendant, if neither..

What age must you be today : If you plan on retiring at age 65, what age must you be today if you started funding your retirement immediately?

User Account

All Pages

Find amend the 2010 return

Reference no: EM13505746

Reference no: EM13505746

Questions Cloud

Reviews

Write a Review

Taxation Questions & Answers

Taxable income

Prepare a tax research memo

Income by ordinary concepts

Identify the tax issues

Calculate carolines taxable income

Taxation – law and practice

Payment to the taxpayer

Prepare regular corporation tax return

Taxation law

A tax on cigarettes is a good way of raising tax revenue

Prepare the required journal entry

Calculate barbs taxable income

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT