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What amount must the ex-wife include in gross income

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Q1. Thomas, age 8, received taxable interest of $1,950 and dividends of $2,550 during the year. He has no other income, and no itemized deductions. Thomas is a dependent of his parents, who have taxable income of $72,000. How much of Thomas' income will be taxed at his parents' tax rate?

a - $0

b - $2,300

c - $4,400

d - $400

e - $3,3500

Q2. By law, Darryl is required to make monthly alimony and child support payments of $2,000 and $3,000, respectively, under the divorce agreement finalized in 2017. During the year, Darryl pays a total of $50,000 to his ex-wife. What amount must the ex-wife include in gross income?

a - $0

b - $26,000

c - $14,000

d - $50,000

e - $24,000

Reference no: EM133104603

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