| In each independent item below, assume that a single taxpayer earned $30,000 in W-2 income. Show the appropriate amount that should appear under each heading. More than one option may be selected |
| Item | Amount | Include in Gross Income | Exclude form Gross Income | Deduction for AGI | Deduction from AGI | Appears on Schedule A | Appears on Schedule B | Appears on Schedule D |
| Interest from Savings Account | $60 |
| Dividends from stock investment | $500 |
| Bad Debt from an Unpaid Loan | $6,000 |
| Donation of automobile to charity | $600 |
| Cash donation to church | $500 |
| Cash donation to charity | $3,000 |
| Student loan interest | $1,200 |
| Alimony | $12,000 |
| Loss on the sale of stock purchased 5 years ago | $900 |
| Gain of the sale of stock purchased 6 years ago | $1,200 |
| Traditional IRA contributions | $4,500 |
| Net loss on real estate rental properties | $6,000 |
| Home business (sole proprietorship) profit | $12,000 |
| Moving expenses | $2,500 |
cheney1
act405_template_ct4_opt1-1.xlsx
