Sergio, a single person with no dependents, has 2005 wages of $83,000, received alimony paymentsof $24,000, has interest income of $4,000, and a $12,000 5% / 15% long terin capital gain. Sergiouses the standard deduction and is age 42. Sergio was divorced in 2015.REQUIRED: (1)(2)What is Sergio's 2022 taxable income? Show all supporting computationsWhat is Sergio's 2022 tax liability? Show all supporting computations.

When filing return for the taxes we have to show the income from all possible sources of income and…

Sergio, a single person with of $24,000, has interest income of $4,000, and a $12,000 5 % / 15% long teran uses the standard deduction and is age 42. Sergio was divorced in 2015. QUIRED: (1) What is Sergio's 2022 taxable income? Show all supporting compu ting computati

Sergio, a single person with of $24,000, has interest income of $4,000, and a $12,000 5 % / 15% long teran uses the standard deduction and is age 42. Sergio was divorced in 2015. QUIRED: (1) What is Sergio's 2022 taxable income? Show all supporting compu ting computati

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter1: Federal Income Taxation—an Overview

Section: Chapter Questions

Problem 64P: Leroy and Amanda are married and have three dependent children. During the current year, they have...

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Question

Sergio, a single person with no dependents, has 2005 wages of $83,000, received alimony payments
of $24,000, has interest income of $4,000, and a $12,000 5% / 15% long terin capital gain. Sergio
uses the standard deduction and is age 42. Sergio was divorced in 2015.
REQUIRED: (1)
(2)
What is Sergio's 2022 taxable income? Show all supporting computations
What is Sergio's 2022 tax liability? Show all supporting computations.

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