User Account

All Pages

What amount is reported as total payments

Assignment Help Taxation
Reference no: EM131794419

Assignment: TAX RETURN

Using the data shown on the following pages for HONG and LIANCHANG, prepare the tax return either by hand or using the PDF fill-in formsandanswer the following questions from your completed tax return:

1. What amount is reported asadjusted gross income?

2. What amount is reported as taxable income?

3. What amount is reported as total tax on line 44 of the 1040?

4. Is the taxpayer subject to the Alternative Minimum Tax (Yes or No)?

5. How much in total credits can the taxpayer claim?

6. Is the taxpayer subject to the health care individual responsibility pmt? (Yes or No)?

7. What amount is reported as total payments?

8. How much is being deducted for taxes paid on Schedule A?

9. How much is being deducted for interest paid on Schedule A?

10. How much is being deducted for charitable contributions?

11. How much depreciation is being taken on the computer?

12. How much depreciation is being taken on the 2015furniture?

13. How much depreciation is being taken on the 2013furniture?

14. What is the net short-term capital gain or loss on Sched D?

15. What is the net long-term capital gain or loss on Sched D?

Attachment:- Assignment-Tax-Return.rar

Reference no: EM131794419

Questions Cloud

Opportunity arose for you to utilize the idiosyncratic deals : Assume that the opportunity arose for you to utilize the idiosyncratic deals (i-deals) in redesigning your job.
Concepts to training and development initiatives : How might we apply these concepts to training and development initiatives?
Prepare the journal entry to record accrued interest expense : On November 7, 2011, Stockmann Company borrows $80,000 cash, Prepare the journal entry to record accrued interest expense at December 31, 2011
Why do project managers need to understand strategy? : Why do project managers need to understand strategy? ?How right to work laws affect labor/management relations.
What amount is reported as total payments : What amount is reported as total payments? How much is being deducted for taxes paid on Schedule A? How much depreciation is being taken on the computer?
Techniques to successfully market your internet business : Describe how you will apply these techniques to successfully market your Internet business.
Calculate amount at which barrett should record note payable : Required: Calculate the amount at which Barrett should record the note payable and corresponding merchandise purchased on January 1, 2011
Discuss what is dollar value of the tax shield on that debt : What is the dollar value of the tax shield on that debt for the current year
How much stress is induced in the film due to the cooling : How much stress is induced in the film due to the cooling of the wafer from 800°C to 25°C? Is the stress tensile or compressive?

Reviews

Write a Review

Taxation Questions & Answers

  Taxable income

Determine taxable income before considering expense.

  Prepare a tax research memo

Prepare a tax research memo to the file that addresses the issues you feel are most relevant to Mimi's various issures.

  Income by ordinary concepts

Explain what is meant by income by ordinary concepts

  Identify the tax issues

Identify the tax issues that are raised and the relevant sections of the legislation. Identify any cases and other sources of law or information that apply.

  Calculate carolines taxable income

Calculate Carolines taxable income

  Taxation – law and practice

Show the tax issues that are raised and the relevant sections of the legislation.

  Payment to the taxpayer

Brief statement in your own words of the facts of the cases.

  Prepare regular corporation tax return

Prepare the C Regular Corporation Tax Return for the Lawson And Norman Enterprise

  Taxation law

Advise the participants in the ‘barter' system of the income tax implications, if any, of participating in the system.

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

Discuss- A tax on cigarettes is a good way of raising tax revenue for the government

  Prepare the required journal entry

Prepare the required journal entry to record the tax expense

  Calculate barbs taxable income

Calculate Barb's taxable income? What nonrefundable credit is Barb eligible for based on the information you have?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd