Question
EBook Calculator Self-Study Problem 2.14 Answer the following questions regarding the tax treatment of educational Incentives....
eBook Calculator Self-Study Problem 2.14 Answer the following questions regarding the tax treatment of educational Incentives. If an amount is zero, enter "o". a. Abby has a distribution of $10,000 from a qualified tuition program, of which $3,000 represents earnings. The funds are used to pay for her daughter's qualified higher education expenses. How much of the $10,000 distribution is taxable to the daughter? b. During 2018, Henry (a single taxpayer) has a salary of $85,000 and interest income of $4,000. Henry has no other income or deductions. Calculate the maximum contribution Henry is allowed for an educational savings account.
Answers
a. 0 because nothing is taxable in the hands of daughter.
b.15000,Taxpayers can deduct up to $15,000 for individuals in contributions to any 529 plan per beneficiary each yea
Similar Solved Questions
1 answers
Find the interior angles of the triangle ABC whose vertices are the points; A[-1,0,2] B[2,1,-1], and C[1,-2,2]
Find the interior angles of the triangle ABC whose vertices are the points; A[-1,0,2] B[2,1,-1], and C[1,-2,2]. I've tried to answer this by making 3 vectors from these 3 points, vectors AB, BC, and AC. then i used the angle between vectors formula. however, it gave me large numbers which dont a...
1 answers
Required information The following information applies to the questions displayed below.) Jorgansen Lighting, Inc., manufactures heavy-duty...
Required information The following information applies to the questions displayed below.) Jorgansen Lighting, Inc., manufactures heavy-duty street lighting systems for municipalities. The company uses variable costing for internal management reports and absorption costing for external reports to sha...
1 answers
How do you rationalize the denominator and simplify #(sqrt3)/(sqrt(5c))#?
How do you rationalize the denominator and simplify #(sqrt3)/(sqrt(5c))#?...
1 answers
Straight bank loan. Right Bank offers EAR loans of 8.97 % and requires a monthly payment...
Straight bank loan. Right Bank offers EAR loans of 8.97 % and requires a monthly payment on all loans. What is the APR for these monthly loans? What is the monthly payment for a loan of (a) $205,000 for 7 years (b) $430,000 for 11 years, or...
1 answers
-which of these is an advantage of using a transformed score when reporting the score of...
-which of these is an advantage of using a transformed score when reporting the score of an individual case? Transformed scores will be reported on the nominal level. Transformed scores will allow the mean score to be reported. Transformed scores provide a measure of variability. Transformed scores ...
1 answers
Discuss new health care technologies that will help improve the health care system or the health...
Discuss new health care technologies that will help improve the health care system or the health of individuals. The goal is to learn about many new advances that may help us all stay healthy....
1 answers
Exercise 2. 19 pts Manipulation of sums Rewrite the following series in only one sum whose...
Exercise 2. 19 pts Manipulation of sums Rewrite the following series in only one sum whose generic term involves 2", i.e. in the form of Check your answer by writing down the first three nonzero terms! (a) (3 pts) (1-2) Ža(n = 1)emons (b) (3 pts) (c) (3 pts) +] (n = 1)ex**++...
1 answers
To measure the CMC, Fluorescence, Absorbance, Conductivity were measured. which one is better than the others?
To measure the CMC, Fluorescence, Absorbance, Conductivity were measured. which one is better than the others?...
1 answers
In SI units, what is the change in the magnitude of the momentum of a 1210...
In SI units, what is the change in the magnitude of the momentum of a 1210 kg car that accelerates uniformly along a straight line from a speed of 4 m/s to a a speed of 17 m/s in 6 s?...
1 answers
The conductor arrangement for a three phase four conductor bundled system is shown in Figure 2...
The conductor arrangement for a three phase four conductor bundled system is shown in Figure 2 The diameter of the individual conductor is 2.8 cm. Find the capacitance and inductance of the line per kilometer....
1 answers
2) Tay-Sachs disease is an autosomal recessive neurological disorder that is fatal in infancy. Despite its...
2) Tay-Sachs disease is an autosomal recessive neurological disorder that is fatal in infancy. Despite its invariably lethal effect, Tay-Sachs disease occurs at very high frequency in some Central and Eastern European (Ashkenazi) Jewish populations. In certain Ashkenazi populations, 1 in 1000 infant...
1 answers
How do you solve for x and y in the equation #4x+2y=98#?
How do you solve for x and y in the equation #4x+2y=98#?...
1 answers
1. Determine the mass (g) of aluminum deposited in an electrolytic cell using a current of...
1. Determine the mass (g) of aluminum deposited in an electrolytic cell using a current of 0.750 A for 1.2 hour (1 hour = 3,600 s) Al3+(aq) + 3e- ⟶ Al(s) 0.302 g 0.000839 g 0.625 g 0.906 g 2.20 g 2. The change in Gibbs free energy, ∆...
1 answers
00 = 8 rad/s The hoop (thin ring) has a mass of 5 kg and is...
00 = 8 rad/s The hoop (thin ring) has a mass of 5 kg and is released down the inclined plane such that it has a backspinw=8 rad/s and its centre has a velocity VG = 3 m/s as shown. If the coefficient of kinetic friction between the hoop and the plane is Hoke=0.6. determine how long the hoop rolls be...
1 answers
The wave function for a hydrogen atom in the ground state is given by
( 25 marks) The wave function for a hydrogen atom in the ground state is given by \(\psi(r)=A e^{-r / a_{s}}\), where \(A\) is a constant and \(a_{B}\) is the Bohr radius. (a) Find the constant \(A\). (b) Determine the expectation value of the potential energy for the ground state of hydrogen....
1 answers
Answer the following questions related to the given electrochemical cell. Answer the following questions related to...
Answer the following questions related to the given electrochemical cell. Answer the following questions related to the given electrochemical cell 2NO(g) H20(l) 2e N20(g) 20H (aq) 0.760 V NO aq) H2O(l) 2e NO2 (aq) 20H (aq) Eo 0.010 V 1. Answer the following questions under standard conditions...
1 answers
Draw a concept map over the topic of Right ventricular hypertrophy. When you draw it, make sure...
Draw a concept map over the topic of Right ventricular hypertrophy. When you draw it, make sure to include Right ventricular hypertrophy in the center, then radiating out from that the 5 following categories: 1. Symptoms 2. Causes 3. Risks 4. Diagnoses 5. Treatments Then from each of thos...
1 answers
The The operate is the rate at which the temperature decreases in the mosphere with respect...
the The operate is the rate at which the temperature decreases in the mosphere with respect to increasing altitude Concurrent measurements indiose that at an elevation of 63 km, the temperature is - 9.8°C, and at an elevation of 27 opertures 7.10. Based on the Moon Value Theorem, can be conclude...