Author: Anonymous

Finn’s gross tax liability is $7,000. Finn had $2,000 of available credits and he had $4,000 of taxes withheld by his employer. What are Finn’s taxes due (or taxes refunded) with his tax return?

Anakin and Padme Skywalker have one daughter, Leia, who is 16 years old. In November of 2019, the Skywalkers took in Leia’s 16-year-old friend Phasma, who has lived with them ever since. The Skywalkers have not legally adopted Phasma but Leia often refers to Phasma as her “sister.” The Skywalkers provide all of the support for both girls, neither girl receives any income during the year, and both girls live at the Skywalkers’ residence. Which of the following statements is true regarding whom Anakin and Padme may claim as dependents for 2020?

Which of the following statements regarding dependents is true?

Charles and Camilla got divorced in 2018. Under the terms of the decree Charles  pays Camilla $50,000 in cash in each of the next five years (or until Camilla’s death or remarriage). In addition, Charles transferred a castle worth $2,000,000 to Camilla in 2018 and will pay $12,000 per year to support their son, Harry, until he turns 19 years old. What amount (if any) is included in Camilla’s gross income in 2020?

Olsen earned $1,500 this year, and his employer withheld $200 of federal income tax from his salary. Assuming that Olsen is single, 30 years old, and will have zero tax liability this year, he:

A taxpayer instructing her son to collect rent checks for the taxpayer’s property and to report this as taxable income on the son’s tax return violates which doctrine?

Which of the following is not considered a primary authority?

This year Non provided services to several clients, each of whom paid with different types of property. Which of the following payments is not included in Non’s gross income?

Lara’s husband passed away this year. After his death, Lara received $250,000 of proceeds from life insurance on her husband, and she inherited her husband’s stock portfolio, worth $750,000. What amount must Lara include in her gross income?

For filing status purposes, the taxpayer’s marital status is determined at what point during the year?