Question

Kelly (19) is single and a full-time college student being claimed by her parents, who are...

Kelly (19) is single and a full-time college student being claimed by her parents, who are paying for her college education. How much of an exemption may Kelly's parents claim for her on their New Jersey tax return?

$2,500

$2,000

$1,500

$1,000

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Mimi is 22 years old and is a full-time student at Ocean County Community College. She...
Mimi is 22 years old and is a full-time student at Ocean County Community College. She lives with her parents, who provide all of her support. During the summer, she put her Web design skills to work and earned $5,000. Can Mimi’s parents claim her as a dependent on their joint tax return? Why or why not? Assume that all five tests under qualifying child are met.
Taxpayer, age 19, is a full-time graduate student at State University. During 2017, he received the...
Taxpayer, age 19, is a full-time graduate student at State University. During 2017, he received the following payments: Income from college financial aid office $ 1,500 Resident adviser housing 2,500 State scholarship for ten months (tuition and books) 6,000 State scholarship (meals allowance) 2,400 Cash award for being the outstanding resident adviser 3,000 Cash support from parents 2,000 $17,400 Taxpayer served as a resident adviser in a dormitory and, therefore, the university waived the $2,500 charge for the room he...
Sally is 92 years old and single and claimed by her daughter as a dependent. During...
Sally is 92 years old and single and claimed by her daughter as a dependent. During the tax year she received $1,900 in interest from her savings account, $1,500 in interest from State of New York general obligation bonds, and $8,000 distributions from a Roth IRA. What is her AGI? $1,500 $1,900 $3,400 $11,400 2) Cranky, age 70, is single and an employee of Unknown Corporation. Her only sources of income in 2017 $80,000 of W-2 wages, $5,100 in alimony...
In 2017 Sara and Scott have one child, Randy, who is 8 years old. They file...
In 2017 Sara and Scott have one child, Randy, who is 8 years old. They file as married filing jointly and claim the child tax credit for Randy. Their AGI in 2017 was $112,700. How much is their total child tax credit? Select one: a. $850 b. $0 c. $1,000 d. $2,000 In 2018 Cornelia, a single taxpayer with AGI of $63,000, spends $25,000 in tuition for her master's degree. What type and amount of education credit can she claim?...
Ron, age 19, is a full-time graduate student at City University. During 2019, he received the...
Ron, age 19, is a full-time graduate student at City University. During 2019, he received the following payments or benefits: Cash award for being the outstanding resident adviser      $ 500 Resident adviser dormitory charge waived                        2,500 State scholarship for ten months (tuition and books)         6,000 State scholarship (meals allowance)                                   2,400 Loan from college financial aid office                               3,000 Cash support from parents                                                  3,000                                                                                         $17,400 Ron served as a resident advisor in a dormitory, which meant he was required to live...
Question 6:Roger, age 19, is a full-time graduate student at State College. During 2018, he received...
Question 6:Roger, age 19, is a full-time graduate student at State College. During 2018, he received the following payments. What is his taxable income: State scholarship for ten months (tuition and books) $3,600 Loan from college financial aid office 1,500 Cash support from parents 3,000 Cash prize awarded in contest 500 $8,600 Group of answer choices $8,600 $500 $2,900 $4,100 ******************************************************************* Question 8: Early in the year, Mike was in an automobile accident during the course of his employment. As...
Which of the following individuals are required to file a tax return for 2019? Should any...
Which of the following individuals are required to file a tax return for 2019? Should any of these individuals file a return even if filing is not required? why or why not? a) Patricia, age 19, is self-employed single individual with gross income of $5,200 from an unincorporated business. Business expenses amounted to $4,900. b) Mike is single and is 67 years old. His gross income from wages was $10,800. c) Ronald is dependent child under age 19 who received...
Sarah (53) is unmarried, and her two daughters, Beth (22) and Carol (19), lived with her...
Sarah (53) is unmarried, and her two daughters, Beth (22) and Carol (19), lived with her the entire year. Beth also has a daughter, Vicki (2), who lives with her mother and grandmother. Carol is a full-time student at Your Local Community College. Sarah’s wages were $37,250; Beth’s were $7,250; Carol and Vicki have no income. What is Sarah's correct and most favorable 2017 filing status? Single. Married filing jointly. Married filing separately. Head of household. Qualifying widow(er). What is...
Interview Notes Darcy is 45 years old, single, and a U.S. citizen with a valid Social...
Interview Notes Darcy is 45 years old, single, and a U.S. citizen with a valid Social Security number. She had $45,000 in wages. During the interview with Darcy, you determine the following facts: Darcy’s son Chris, age 21, is unmarried and was a full-time student working on a degree in accounting during 2017. Chris’ income was $8,500 in wages, which he used to pay his tuition. He did not provide more than half his own support. Chris lived on campus...
Matt and Carrie are married, have two children, and file a joint return. Their daughter Katie...
Matt and Carrie are married, have two children, and file a joint return. Their daughter Katie is 19 years old and is a full-time student at State University. During 2017, she completed her freshman year and one semester as a sophomore. Katie’s expenses while she was away at school during the year were as follows: Use Tax Rate Schedule for reference.     Tuition $ 5,020 Class fees 305 Books 505 Room and board 4,510 Katie received a half-tuition scholarship that...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT