Description of this paper

Determine Elizabeth?s taxable income for 2014

Description

solution


Question

3. Elizabeth, a single taxpayer with two dependent children, has the following items of income and expense during 2014;Gross Receipts from business 145,000;Business Expenses 178,000;Salary from part-time job 22,000;Interest Income 30,000;Itemized deductions (no casualty or theft) 35,000;a. Determine Elizabeth?s taxable income for 2014;b. Determine Elizabeth?s NOL carryover for 2014

 

Paper#25122 | Written in 18-Jul-2015

Price : $22
SiteLock