Alex is unmarried and paid all the of the cost of maintainin…

Alex is unmarried and paid all the of the cost of maintaining his household. His 19-year-old sister, Brooke, lived with him for the entire year. Brooke is not a full-time student and earned $4,500 from a part-time job, which covered only a small portion (20%) of her living expenses. Alex paid the rest of her support. What is Alex’s filing status?

Alex is unmarried and paid all the of the cost of maintainin…

Alex is unmarried and paid all the of the cost of maintaining his household. His 19-year-old sister, Brooke, lived with him for the entire year. Brooke is not a full-time student and earned $4,500 from a part-time job, which covered only a small portion (20%) of her living expenses. Alex paid the rest of her support. What is Alex’s filing status?

Margaret Lindley paid $15,000 of interest on her $300,000 ac…

Margaret Lindley paid $15,000 of interest on her $300,000 acquisition debt for her home (purchased in 2019 at a fair market value of $500,000) and $4,000 of interest on her $60,000 home-equity debt. The proceeds of the home-equity loan were used to construct a bedroom addition on Margaret’s home. She also incurred $1,000 of credit card interest. How much of the interest expense may she deduct this year as an itemized deduction?

Tia serves as a waitress for a luxury vacation resort. In 20…

Tia serves as a waitress for a luxury vacation resort. In 2025, Tia earned a salary of $50,000 and received tips of $30,000 (all properly reported by Tia’s employer). Tia’s spouse works as an interior designer for the resort and together, their modified AGI is $375,200. They file a joint tax return. How much qualified tip income can Tia deduct in 2025?