Income Tax Case Study Based Assessment Answers
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Course Title: Income Tax
University: St. John’s University
Course Code: TAX 610
Country: Australia
Case – I
Mrs Jack’s husband died in 2017. She has not remarried. She maintained a household for her 20-year-old daughter, Liz, who was a full-time student in 2017 and she provided more than half of her support.
In 2018, her daughter continued college on a full-time basis.
In 2019, her daughter left school and moved out.
(a) What is Mrs Jack’s filing status for 2017?
(b) What is Mrs Jack’s filing status for 2018?
(c) What is Mrs Jack’s filing status for 2019?
Case – II
Paul and Tina are age 66 and 62 respectfully. They file a joint return. They have itemized deductions totalling $15,000. They support their 24-year-old son, Jed who goes to school on a full-time basis. He earns $4,000 per year as a waiter at a restaurant.
Paul and Tina also support a friend Janice who came to dinner one evening and never left. She does not earn any money.
Wages …………………………………… $170,000
Interest from savings …………………… 12,000
Interest on NYS qualified bonds ………… 7,000
Inheritance from Tina’s Aunt Lucy………… 6,000
Alimony paid to Tina’s ex-husband 8,000
Child support from Tina’s ex-husband Eric.. 10,000
Prize from the contest at church………………. 1,000
Dividend from ABC Corp. stock ………… 2,000
(a) What is Paul and Tina’s gross income?
(b) What is Paul and Tina’s adjusted gross income?
(c) What is Paul and Tina’s standard deduction?
(d) What is Paul and Tina’s tax liability?
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