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Income Tax Fundamentals 2020 38th Edition

Income Tax Fundamentals 2020 (38th Edition)

Book Edition38th Edition
Author(s)Altus-Buller, Whittenburg
ISBN9780357108239
PublisherCengage
SubjectAccounting
Section 2-1: THE NATURE OF GROSS INCOME
Self-Study Problem
Section 2-2: SALARIES AND WAGES
Self-Study Problem
Section 2-3: ACCIDENT AND HEALTH INSURANCE
Self-Study Problem
Section 2-4: MEALS AND LODGING
Self-Study Problem
Section 2-5: EMPLOYEE FRINGE BENEFITS
Self-Study Problem
Section 2-6: PRIZES AND AWARDS
Self-Study Problem
Section 2-7: ANNUITIES
Self-Study Problem
Section 2-8: LIFE INSURANCE
Self-Study Problem
Section 2-9: INTEREST AND DIVIDEND INCOME
Self-Study Problem
Section 2-10: MUNICIPAL BOND INTEREST
Self-Study Problem
Section 2-11: GIFTS AND INHERITANCES
Self-Study Problem
Section 2-12: SCHOLARSHIPS
Self-Study Problem
Section 2-13: ALIMONY
Self-Study Problem
Would You Sign This Tax Return?
Section 2-14: EDUCATIONAL INCENTIVES
Self-Study Problem
Section 2-15: UNEMPLOYMENT COMPENSATION
Self-Study Problem
Section 2-16: SOCIAL SECURITY BENEFITS
Self-Study Problem
Section 2-17: COMMUNITY PROPERTY
Self-Study Problem
Chapter 2, Section 2-13, Self-Study Problem, Exercise 2.13
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A taxpayer (payor ex-spouse) is required to pay an ex-spouse (recipient ex-spouse) alimony of $12,000 per year. Determine how much alimony is deductible by the payor ex-spouse and how much alimony is recognized as income by the recipient ex-spouse based on the following information

DetailsDeductible by payorIncludable by recipient
The payments are made in 2019 as part of a divorce decree executed in 2018. The divorce decree is modified in 2019 to explicitly apply the provisions of the TCJA.________________

A taxpayer (payor ex-spouse) is required to pay an ex-spouse (recipient ex-spouse) alimony of $12,000 per year. Determine how much alimony is deductible by the payor ex-spouse and how much alimony is recognized as income by the recipient ex-spouse based on the following information:

DetailsDeductible by payorIncludable by recipient
The payments are made in 2019 as part of a divorce decree executed in 2016.________________

A taxpayer (payor ex-spouse) is required to pay an ex-spouse (recipient ex-spouse) alimony of $12,000 per year. Determine how much alimony is deductible by the payor ex-spouse and how much alimony is recognized as income by the recipient ex-spouse based on the following information:

DetailsDeductible by payorIncludable by recipient
The payments are made in 2019 as part of a divorce decree executed in 2019.________________

Page 2-29