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Problem 4-25
Rent received January 09
$5,000
Rent received December 09
$4,000
Rental Income
$9,000
Problem 4-32
a) No income
b) Deduction to Arnold but no income to Barbara
c) Income to Barbara
Problem 4-38
Salary
$45,000
Interest on bank accounts
$800
Dividends
$500
Rental income
$3,000
Rental income
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Unformatted text preview: $500 Gross income $49,800 Less: Itemized deductions $12,000 $37,800 Less: Exemptions $10,950 Taxable income $26,850 Problem 6-29 a) Not deductible b) Not deductible c) Not deductible d) Deductible e) Not deductible f) Not deductible Problem 6-34 No this cannot occur....
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- Spring '11
- Anderson
- Interest, Taxation in the United States, rental income, Income Gross Income, Barbara Problem
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