federal - 9. Assume the same facts as in the previous...

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9. Assume the same facts as in the previous question (again, ignore any deduction that may relate to self-employment taxes). Katerina’s Taxable Income be for 2010 will be: a. $23,050 b. $25,050 c. $28,050 d. To answer this question we must know the amount of the sole proprietorship dividend in 2010 10. Tawanda and Joseph are married taxpayers who file a joint return. In 2009 , they had AGI of $300,000 and their preliminary itemized deductions totaled $20,000. In 2010 , they will also have AGI of $300,000 and preliminary itemized deductions of $20,000. Which of the following is TRUE? a. When comparing their 2009 and 2010 returns, they will actually be able to deduct more itemized deductions on their 2010 return b. When comparing their 2009 and 2010 returns, they will actually be able to deduct more itemized deductions on their 2009 return c. When comparing their 2009 and 2010 returns, they will actually be able to deduct the same amount of itemized deductions on each return d. They will not be allowed to actually deduct any itemized deductions on either their 2009 return or their 2010 return 17. Which of the following expenditures is most likely deductible from GROSS INCOME ( i.e. , for AGI or PRE-AGI)? a. A spouse’s medical care expenses b. An employee’s unreimbursed travel expenses ( i.e. , relating to her job) c. Interest on the taxpayer’s student loan d. ALL of the above items would be deducted PRE-AGI 18. Kurt will have AGI of $70,000 in 2010. During 2010, Kurt will also have an uninsured personal casualty loss of $5,000 ( after the $100 reduction). The personal casualty loss relates to an accident that Kurt had with Donny. Kurt
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federal - 9. Assume the same facts as in the previous...

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