Herb and Alice are married and file a joint return. Herb is 74 years old. Alice turned 70 on February 3, 2020. Neither are blind.
1. Herb and Alice cannot make contributions to their traditional IRAs because they are both over 70 1/2
2. Alice must take her first required minimum distribution (RMD) by April 1, and her second RMD by December 31, of what year________?
3. Herb and Alice’s standard deduction is:
6. What amount can Luther take as an HSA deduction? $________.
7. None of the HSA distribution is taxable because the entire amount was used to pay qualified medical expenses.
8. How much of Luther and Lexi’s charitable donations are deductible on their federal return? $________.
9. What is Kendall’s total self-employment expense? $________.