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What does tom brady pay in child support

04/10/2021 Client: muhammad11 Deadline: 2 Day

Question 3 (35 points) Tom Brady is divorced. He was born in 1955 and has two unmarried daughters who live has two unmarried daughters who live with e 21) and Jane (age 18). Both are full-time students at CSULB. Marie is a fourth- year student and Jane is a first-year student who receives a full scholarship for nett niversity. Tom provides both with more than 50% of their support. He presents the following information for 2019: $ 49,000 8,000 Wages received Alimony paid (divorced in 2010) Municipal bonds interest income Life insurance proceeds Child support received Discharge of indebtedness Social security benefits (total received) Surgery and prescription drugs State income tax paid Property taxes paid Mortgage interest paid Qualified cash charitable contribution Tuition and fees paid for Marie Gambling winning Gambling loss 1,200 28.000 6,000 22,000 14,000 15,670 3,020 6,780 10,900 900 2,800 300 100 Tom was discharged of $22,000 of debt he borrowed from his employer because the employer wanted to keep him at work. His employer withheld $5,000 federal income tax. He claims the American Opportunity credit. He claims the child tax credit for both Marie and Jane. What is Tom Brady's tax due or refund for 2019? NOTES: *Be sure to discuss each item listed above for full credit for this problem. For example, if an item is excluded from gross income, please state that it is excluded.

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