Adam Attended College for Much of 2013,during Which Time He

question 86

Essay

Adam attended college for much of 2013,during which time he was supported by his parents.Erin married Adam in December 2013.They live in a common law state.Adam graduated and will commence work in January 2014.Erin worked during 2013 and earned $20,000.Adam's only income was interest of $1,100.Adam's parents are in the 28% tax bracket.Thus,claiming Adam as a dependent would save them $1,092 ($3,900 × .28).
a.What is Erin and Adam's tax liability if they file a joint return?
b.What is Erin and Adam's total tax liability if they file separate returns and Adam's parents claim him as a dependent?

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Definitions:

Freud

Refers to Sigmund Freud, an Austrian neurologist and the founder of psychoanalysis, a method for treating psychopathology through dialogue between a patient and a psychoanalyst.

Id, Ego, Superego

Components of the human psyche in Freudian psychoanalytic theory, with the id being instinctual desires, the ego the realistic mediator, and the superego the moral conscience.

Hull House

A settlement house founded by Jane Addams and Ellen Gates Starr in Chicago in 1889, aiming to assist immigrants and the poor with educational and social services.

Job Opportunities

Available positions of employment where individuals can apply their skills and qualifications.