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22. Several years ago, after a particularly fierce argument, Fran’s husband moved out and has not been heard from or seen since. Because Fran cannot locate her husband, she uses a “married, filing separate” income tax return. Comment on Fran’s Federal filing status. Fran cannot use the abandoned spouse filing because she does not have a dependent, so she would be in the higher tax bracket.
Southwestern Federal TaxationHomework Chapter 1 & 3Mary K. Smith29. Compute the taxable income for 2013 for Emily on the basis of the following information. Her filing status is single.Salary$85,000Interest income from bonds issued by Xerox1,100Alimony payments received6,000Contribution to traditional IRA5,500Gift from parents25,000Capital gain from stock investment, held for 7 months2,000Amount lost in football pool500Number of potential dependents?34. Determine the number of personal and dependency exemptions in each of the following independent situations.
Southwestern Federal TaxationHomework Chapter 1 & 3Mary K. Smithb. Pablo, a U.S. citizen and resident, contributes 100% of the support of his parents who are citizens of Panama. Pablo’s father is a resident of Panama, and his mother is a legal