Tax Drill - Social Security Benefits Determine the taxable amount of social security benefits for the following situations. If an amount is zero, enter "0". a. Erwin and Eleanor are married and file a joint tax return. They have adjusted gross income of $36,000, no tax-exempt interest, and $12,400 of Social Security benefits. As a result, s OX of the Social Security benefits are taxable. b. Assume Erwin and Eleanor have adjusted gross income of $12,000, no tax-exempt interest, and $16,000 of Social Security benefits. As a result, s O of the Social Security benefits are taxable. c. Assume Erwin and Eleanor have adjusted gross income of $85,000, no tax-exempt interest, and $15,000 of Social Security benefits. As a result, s 0x of the Social Security benefits are taxable.
Tax Drill - Social Security Benefits Determine the taxable amount of social security benefits for the following situations. If an amount is zero, enter "0". a. Erwin and Eleanor are married and file a joint tax return. They have adjusted gross income of $36,000, no tax-exempt interest, and $12,400 of Social Security benefits. As a result, s OX of the Social Security benefits are taxable. b. Assume Erwin and Eleanor have adjusted gross income of $12,000, no tax-exempt interest, and $16,000 of Social Security benefits. As a result, s O of the Social Security benefits are taxable. c. Assume Erwin and Eleanor have adjusted gross income of $85,000, no tax-exempt interest, and $15,000 of Social Security benefits. As a result, s 0x of the Social Security benefits are taxable.
Chapter1: The Individual Income Tax Return
Section: Chapter Questions
Problem 13P
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Transcribed Image Text:Tax Drill - Social Security Benefits
Determine the taxable amount of social security benefits for the following situations.
If an amount is zero, enter "0".
a. Erwin and Eleanor are married and file a joint tax return. They have adjusted gross income of $36,000, no tax-exempt interest, and
$12,400 of Social Security benefits. As a result, s
0X of the Social Security benefits are taxable.
b. Assume Erwin and Eleanor have adjusted gross income of $12,000, no tax-exempt interest, and $16,000 of Social Security benefits. As
a result, s
O✓ of the Social Security benefits are taxable.
c. Assume Erwin and Eleanor have adjusted gross income of $85,000, no tax-exempt interest, and $15,000 of Social Security benefits. As
a result, s
0X of the Social Security benefits are taxable.
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