Question 5Sonya Landrum (17) is a dependent of her parents. Shehad wages of $1,525... Question...

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Accounting

  Question 5
Sonya Landrum (17) is a dependent of her parents. Shehad wages of $1,525 and earned $185 in interest from her savingsaccount. The maximum amount she may contribute to a traditional orRoth IRA for 2017 is .
a)$0
b)$1,525
c)$1,710
d)$5,500

Question 6
The expenses that qualify for an education credit in2017 are .
a)Tuition payments not offset by nontaxable scholarships,grants, or other benefits.
b)Fees for an optional student activity.
c)Costs for student health fees.
d)Tuition payments offset by nontaxable scholarships, grants, orother benefits.
Question 7
Graduate-level classes taken at a local college qualifyas a work-related expense if the classes __.
a)
Are needed to meet the minimum educational requirements of thetaxpayer's present trade.
b)Maintain or improve skills needed in the taxpayer's presentwork.
c)Qualify the taxpayer for a new trade orbusiness.
d)
Are taken during an absence from your job lasting up to 18months.

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Sonya Landrum 17 is a dependent of her parents She had wages of 1525 and earned 185 in interest from her savings account The maximum amount she may contribute to a traditional or Roth IRA for 2017 is a0 b1525 c1710 d5500 Dependents earning less than the annual limit can only See Answer

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In: Accounting Question 5Sonya Landrum (17) is a dependent of her parents. Shehad wages of $1,525... Question 5Sonya Landrum (17) is a dependent of her parents. Shehad wages of $1,525 and earned $185 in interest from her savingsaccount. The maximum amount she may contribute to a traditional orRoth IRA for 2017 is __________.a)$0 b)$1,525 c)$1,710 d)$5,500 Question 6The expenses that qualify for an education credit in2017 are __________.a)Tuition payments not offset by nontaxable scholarships,grants, or other benefits. b)Fees for an optional student activity. c)Costs for student health fees. d)Tuition payments offset by nontaxable scholarships, grants, orother benefits.Question 7Graduate-level classes taken at a local college qualifyas a work-related expense if the classes __________.a)Are needed to meet the minimum educational requirements of thetaxpayer's present trade. b)Maintain or improve skills needed in the taxpayer's presentwork. c)Qualify the taxpayer for a new trade orbusiness. d)Are taken during an absence from your job lasting up to 18months.