new microsoft office word document 2

# new microsoft office word document 2

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Under the terms of a divorce decree executed May 1, 2014, Ahmed transferred a house worth 650,000 to his ex-wife, Farah, and was to make alimony payments of 3,000 per month. The property has a tax basis to Ahmed of 300,000. a. How much of this must be reported on Farah's tax return? Answer: b. Of that amount, how much is taxable gain or loss that Farah must recognize related to the transfer of the house? Answer:

Juan, who is single, is a self-employed carpenter and is also an employee of Frame It, Inc. His self-employment net income is 35,000, and he received a W-2 from Frame It for wages of 25,000. He is covered by his employer's pension plan, but his employer does not offer a health plan in which he could participate. a. Up to how much, as a percentage of his self-employed...

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