BigDave
Do you know the answers?

5. Multiple Choice: Mr. and Mrs. Twig are both under 65 years of age and have no dependents. Their only income for the year was his salary of $15,500. During the year they made only a nominal amount of disbursements of the type that qualify as itemized deductions. What is their standard deduction on a 2005 joint return?


a. $3,200

b. $10,000

c. $5,000

d. $7,300

e. None of the above

6. Multiple Choice: Jerry Jenkins is over 65 years of age and has no dependents. His only income was his salary of $10,500. During the year, he made only a nominal amount of disbursements of the type that qualify as itemized deductions of $3,290. What is his standard deduction for 2005?


a. $5,000

b. $3,200

c. $6,250

d. $3,290

e. None of the above
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*SweetSPL*
Sorry I can't help ya my math sucks.
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Broken Silence - Johnny
5= b, standard deduction for filing jointly is 10k

6 = a, standard deduction filing single is 5k
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Broken Silence - Johnny
google > joo
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BigDave
I suck at google. It always brings up crap that has nothing to do with what I am looking for.
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audiobhanfan85
johnny is right...i had tax accounting last semester and it blew ass. anyway...for married the standard deduction is 10,000, choose the higher of the itemized deduction or the standard deduction. for single the standard ded. is 5,000, choose the higher of itemized or standard.
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oldtimer
Remember this is a 2005 return
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TeamSubGoPoof
Quote:
Originally posted by audiobhanfan85:
...choose the higher of the itemized deduction or the standard deduction. for single the standard ded. is 5,000, choose the higher of itemized or standard.
i couldn't take that class...you just totally lost me
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