Interview Notes Herb and Alice are married and file a joint return. Herb is...

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Accounting

Interview Notes
  • Herb and Alice are married and file a joint return. Herb is 74 years old and Alice is 70. Neither are blind.
  • Both Herb and Alice are retired. Herb works part time as a greeter.
  • Herb earned $15,000 in wages. They also received Social Security benefits of $28,000. They received no other income in 2021.
  • Both Herb and Alice are U.S. citizens, lived in the United States all year, and have valid Social Security numbers. They do not have any qualifying children, and no one else lives with them.
1. What is Herb and Alices standard deduction? $________. (Do not enter dollar signs, commas, periods, or decimal points in your answer.)

27800

Interview Notes
  • Herb and Alice are married and file a joint return. Herb is 74 years old and Alice is 70. Neither are blind.
  • Both Herb and Alice are retired. Herb works part time as a greeter.
  • Herb earned $15,000 in wages. They also received Social Security benefits of $28,000. They received no other income in 2021.
  • Both Herb and Alice are U.S. citizens, lived in the United States all year, and have valid Social Security numbers. They do not have any qualifying children, and no one else lives with them.

2. The taxable amount of Herb and Alices Social Security is $23,800.

TRUE OR FALSE

False
Interview Notes
  • Herb and Alice are married and file a joint return. Herb is 74 years old and Alice is 70. Neither are blind.
  • Both Herb and Alice are retired. Herb works part time as a greeter.
  • Herb earned $15,000 in wages. They also received Social Security benefits of $28,000. They received no other income in 2021.
  • Both Herb and Alice are U.S. citizens, lived in the United States all year, and have valid Social Security numbers. They do not have any qualifying children, and no one else lives with them.

3. Herb and Alice are eligible to claim the Earned Income Credit (EIC) in 2021 because they have earned income and adjusted gross income under the EIC threshold.

QUESTION: True of False

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