Question

#lewy pred wity for $15 01 2 2500 for the her life, the first wym a ting any 1. 2018 Her life expectancy 10thwhich of the 100 following to somety Jawy o wird e i ne wil he has collected payments $2.500 - $150.000). Jerry Golds 20 payment and the disi 2019, bere homend her Fofure for 2018 and 2010 aliminate all of the reported income from the y the years For R$2,500 payment received in the first year. Jenamust include $1.000 in on Income, For en Por each 12.500 92,500 payment received in the first year. Jenya must include $500 in grOSS Income 6. For each $2,500 payment received in the first year, Jenya must include $1,500 in gross income 14. Ron, 19, is a full-time student at City University. During 2019, he received the following payments. State scholarship - tuition $ 6,000 State scholarship - room and board 3.000 2.000 Loan from college financial aid office 50,000 Ron was walking to class and hit by a drunk driver. He broke his leg and received 550,000 for his injury. 10,000 Ron also received $10,000 for punitive damages What is Ron's adjusted gross income for 2019? a $13,000 b. $21,000 0 $61,000 d. $71,000, e. None of the above, 15. In 2019, Asia had the following transactions: Salary Asia embezzled (stole) money from her employer Traditional IRA contribution made Student loan interest paid Charitable contributions $90,000 4,000 (5,000) (6,000) (5,000) Asia's AGI is: a $78,000 b. $83,000. c. $94,000 d. $104,000 e. $110,000

Answer 1

Answer 8 - option d )the Doctrine of Constructive Receipt is a taxation principle that taxes income before that income is actually received)

answer 9 - none of these'

answer 10 - $83000