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.

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.

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