1. Helen receives the $200 lump sum life insurance pay
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1. Helen receives the $200 lump sum life insurance payment with her friend Alice dies. How much of the payment is taxa
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1. Helen receives the $200 lump sum life insurance payment with her friend Alice dies. How much of the payment is taxable to Helen? 2. Quinn is a tax accountant who works very hard for a large corporate client. The client is please and gives her a gift of $10,000 at year end. How much of the gift is taxable to Quinn? 3. Charleen received a gift from her boyfriend of $10,000 he knows she is having financial problems and wants to help her. How much of the gift is taxable to Charlene? 4. Robbie receives this scholarship of $20,000 to an elite private college. $10,000 of the scholarship is earmarked for tuition and $10,000 covers his room and board. How much of the scholarship if any is taxable to rob? 5. Vandelle is a taxpayer in the 28% bracket he invest in o-tay Mesa Water District bonds that pay 6% interest what taxable interest rate will provide the same after tax return to Vandell? 6. Karen is a well-off retired investment advisor who is in the 35 percent tax bracket. She has a choice between investing in a high quality municipal bond pain 5 percent or a high quality corporate bond pain seven percent which interest do you think she will make and why?
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