Find out johns income tax liability

Assignment Help Financial Accounting

Reference no: EM13123974

During 2009, Daniel had salary income of $67,000, $1600 of qualified dividend income, and received $50,000 from the life insurance policy on his wife. His employer does not offer a retirement plan so he made a $3,000 contribution to his traditional IRA. He paid $9,800 for a hospital bill and $3,000 for a doctor bill for his deceased wife. He also paid $14,000 in mortgage interest, $1,800 in property taxes, $300 of credit card interest, and $1400 in job hunting expenses when he tried to change jobs in March. Determine Johns income tax liability for 2009 before any allowable credits.

Reference no: EM13123974

Questions Cloud

How many moles of oxygen could be produce : potassiumm chlorate (KClO3) decomposes to form potassium chloride and oxygen gas. if 5.4 moles of potassium chlorate decompose, how many moles of oxygen could be produce.

Spanning sets and basis : Could you clarify what constitutes a spanning set and a basis? Also how does one test to see if a set of vectors is a spanning set and if it is a basis?

Scalar multiplication and matrix multiplication : What's the difference between scalar multiplication and matrix multiplication? What would be an example of the two? Indicate whether the matrix is in row-reduced form.

Calculate confidence interval for mean percentage share : Calculate a 95 percent confidence interval for the mean percentage share of billing volume from network television for the population of all US advertising agencies.

Find out johns income tax liability : He also paid $14,000 in mortgage interest, $1,800 in property taxes, $300 of credit card interest, and $1400 in job hunting expenses when he tried to change jobs in March. Find out Johns income tax liability for 2009 before any allowable credits.

What is ?h for the formation of one mole of al2o3(s) : Consider the reaction 2 Al2O3(s) → 4 Al(s) + 3 O2(g). ?H = +3339.6 kJ/mol What is ?H for the formation of one mole of Al2O3(s) from the elements

Issue of linear equality in variable linear equation : You have just graduated from college, and you have started your first big project at your new job. Your boss informs you that you are responsible for the Equations and Inequalities section of the project and for presenting your ideas to the team.

Creating competitive advantage : If a firm decided to reevaluate and reorganize the way it did business, in hopes of creating competitive advantage, by changing or decreasing jobs, the company would be using which of the following management technique?

Write an assignment high level english : write the assignemnt in a really structured high level english because it s a graduate course and proofread

User Account

All Pages