## (solution) Hi class - This week the H&R Block Practice Set is Problem 55

Hi class - This week the H&R Block Practice Set is Problem 55 from Chapter 11. This problem requires you to compare two taxpayers, Bonnie and Jake's filing status to see if it is better for them to file single or jointly.  You can do this in the H&R Block PRogram and provide me three separate files (pdf please!).  Or you can plug in the figures on a word document and show me in a table format (or other format that clearly represents) the informaiton from the three returns.  You will need to show me the the tax for each situation:  Bonnie filing separately, Jake filing separately and Bonnie and Jake filing jointly. Some tips:

• Medical deductions come into play here.
• Pay close attention on whether the rental loss deduction can be taken if they file separately.
• The tax for each situation should be somewhere between \$1500 and \$4100.

Hi class - This week the H&amp;R Block Practice Set is Problem

55 from Chapter 11. This problem requires you to compare

two taxpayers, Bonnie and Jake's filing status to see if it is

better for them to file single or jointly. You can do this in the

H&amp;R Block PRogram and provide me three separate files

(pdf please!). Or you can plug in the figures on a word

document and show me in a table format (or other format

that clearly represents) the informaiton from the three

returns. You will need to show me the the tax for each

situation: Bonnie filing separately, Jake filing separately and

Bonnie and Jake filing jointly.

Some tips: Medical deductions come into play

here.

Pay close attention on whether the

rental loss deduction can be taken if

they file separately.

The tax for each situation should be

somewhere between \$1500 and

\$4100. Bonnie and Jake ages 35 and 36, respectively are married

with no dependents and live in Montana( not a community

property state). Because Jake has large medical expenses,

they seek your advice about filing separately to save

taxes.Their income and expenses are as follows

Bonnies salary

\$ 42,500

Jake

salary

26,000

Interest Income (joint)

1,500

Rental loss from actively managed property (23,000)

Jakes unreimbursed medical expenses

8,500

All other itemized deductions

Bonnie

Jake 9,000

3,400 None subject to limitations

Determine whether Bonnie and Jake should file jointly or

separately for 2014

Solution details:

STATUS

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QUALITY

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DATE ANSWERED

Sep 13, 2020

EXPERT

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ANSWER RATING

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