What deduction method can sue use

Assignment Help Accounting Basics
Reference no: EM132478929

Problem 1: Bob and Sue are married, but live apart. They will not file a joint return this year. Their son, Roger, lives with Sue and she is filing Head of Household. Bob owns his own home and has paid mortgage interest and real estate taxes. Bob will be itemizing his deductions. What deduction method can Sue use?

a) She must itemize deductions since her husband itemizes deductions.

b) She can use the standard deduction only if she files her return before Bob.

c) Sue can choose to itemize deductions or use the standard deduction.

d) Sue is not eligible for either deduction

Reference no: EM132478929

Questions Cloud

What are the limitation on total itemized deductions : AGI is $350,000. Which of the following itemized deductions on Schedule A will be subject to the limitation on total itemized deductions?
What are different types of services to existing clients : Would it make the most sense for Carrie to consider developing new clients or to consider offering different types of services to existing clients
HN144 Ecomap Assignment : HN144: Ecomap Assignment help and solution, assessment writing service - Use the template provided as is, including filling out all 6 small circles
Determine what other taxes can be used in itemized deduction : Determine what other taxes can be used in itemized deductions. Which of the following does not qualify for deduction as taxes paid?
What deduction method can sue use : Bob owns his own home and has paid mortgage interest and real estate taxes. Bob will be itemizing his deductions. What deduction method can Sue use?
What is the acquisition differential : What is the acquisition differential? P purchased 100% of S for $4,900,000. Book value of S assets: $5,000,000 Fair value of S assets: $5,700,000
What is the goodwill amount : What is the goodwill amount? P purchased 100% of S for $4,800,000. Book value of S assets: $4,900,000 Fair value of S assets: $5,500,000
What journal entries are required in pops pre-consolidation : What journal entries are required in Pop's pre-consolidation accounting records at January 1, 2019; December 31, 2019 and April 10, 2020?
What annual rate of interest must you earn on investment : What annual rate of interest must you earn on your investment to cover the cost of your child's college education? (Do not round intermediate calculations)

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd