Debra and Jeff are married and file a joint return. Debra is an office assistant and received a Form
W-2 in the amount of $25,000 while her husband earned $18,000 that shows up on a Form 1099-
MISC for his house repair gigs. He spent $2,500 for various supplies and tools he used at work. They
have a daughter, Melissa, age 17, who received a Form 1099-MISC for $2,000 she earned during
summer working as a photo model. Melissa is claimed as a dependent on the joint return. How much
income should be reported on parent's Form 1040, line 12?
a. $15,500
b. $17,500
c. $18,000
d. $20,000
e. $25,000
2007-12-29 13:33:44 · 6 answers · asked by dekakashi 3 in Business & Finance ➔ Taxes ➔ United States
On line 12 just 15,500 and the 2,000 that the daughter earn she is going to put them on her taxes as a dependent filler.
2007-12-29 14:25:24 · answer #1 · answered by Jen 3 · 1⤊ 0⤋
Line 12 is for business income, so it's only Jeff's $18K minus his $2500 in expenses.
Melissa's income goes on her own return. Debra's W-2 income goes on line 7, not line 12.
2007-12-29 16:45:09 · answer #2 · answered by Judy 7 · 1⤊ 0⤋
dependent income is not counted with parents' income. also, any tax credits must be listed AFTER total gross income is reported.
umm it should be 43k
2007-12-29 13:37:41 · answer #3 · answered by cowboydanimal 4 · 0⤊ 2⤋
25,000+(18,000-2500)= Your answer
2007-12-29 13:37:21 · answer #4 · answered by Anonymous · 0⤊ 2⤋
Look , if you want to play teacher , please go to the kiddie section.
2007-12-29 13:37:38 · answer #5 · answered by marshoberg55 4 · 2⤊ 0⤋
20,000 i think?
but sites can help you
http://www.thewrestlinggame.com/wg.asp?w=45713
2007-12-29 13:35:56 · answer #6 · answered by Edgefan 1 · 0⤊ 2⤋