Question

1.) Which of the following is a taxable income?

a. Alimony received in accordance with a divorce decree signed prior to dec 31,2018. No changes have been made to the agreement.

b.Child support payments received in accordance with a divorce decree signed prior to Dec 31,2018. No changes have been made to the agreement.

c. A non cash property settlement paid by a former spouse

d. Payments made to maintain the taxpayer's primary residence, made by a former spouse who still owns the property.

2.) The 2019 gross income filling requirement for a taxpayer who is age 65 or older, is not blind, and is filing as single is:

a. 12,200

b. 13,500

c. 13,850

d. 15,150

3.) Read the following scenario, and then choose the response that accurately completes the last sentence. Michael(32) and Jen (27) married in March 2019. Zoe(8), Jen's child from a previous marriage, came to live with them on July 5,2019. Prior to moving in with Michael and Jen, Zoe was supported and lived with her father. Neither Jen nor Zoe's father ever signed Form 8332, Release/Revocation of release of claim to Exeption by custodial parent. Michael and Jen are:

a. Eligible to claim Zoe as a qualifying child.

b. Eligible to claim Zoe as a qualifying relative

c. Eligible to claim a personal exemption for Zoe.

d. Not eligible to claim Zoe as a dependent for the purpose of any tax benefit.

Answer 1

1) Alimony received in accordance with a divorce decree signed prior to dec 31,2018.

For divorces after December 31, 2018, alimony payments are no longer deductible nor must the recipient declare the amount as taxable income. ... If a pre-2019 divorce is not modified, the old rules apply: the payer can deduct payments and the recipient must pay tax on them.

2) C.13850

3) C.eligible to claim personal exemption for zoe.

michael and jen noe not eligible to claim Zoe as a dependent for the purpose of any tax benefit as zoe does not meet the criteria.