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Find the amount of taxable income and the tax owed for the following people

Question : Find the amount of taxable income and the tax owed for the following people : 2139059

Find the amount of taxable income and the tax owed for the following people. The letter following

the name indicates the marital status and all married people are filing jointly. Use $4050 for each personal

exemption; $6300 as the standard deduction for single taxpayers, $12,600 for married taxpayers filing

jointly, and $9300 for head of household and the following tax rate schedule.

31)

A) $ 97,440; $ 16,610.00

B) $ 91,640; $ 15,839.20

C) $ 81,285; $ 15,013.75

D) $ 89,590; $ 13,940.00

32)

A) $ 82,534; $ 9,849.00

B) $ 81,296; $ 11,866.50

C) $ 83,234; $ 13,485.52

D) $ 81,296; $ 13,138.88

33)

A) $ 56,275; $ 8,366.25

B) $ 60,160; $ 10,070.00

C) $ 58,125; $ 9,655.00

D) $ 59,275; $ 9,973.75

34)

A) $ 64,679; $ 11,312.25

B) $ 64,531; $ 10,430.25

C) $ 64,679; $ 11,075.25

D) $ 66,179; $ 11,910.12

Find the tax refund or tax due for the following people. The letter following the name indicates

the marital status. Assume a 52-week year and that all married people are filing jointly. Use $4050

for each personal deduction, a standard deduction of $6300 for single taxpayers, $12,600 for married

taxpayers filing jointly, and $9300 for head of household and the tax rate schedule.

35)

A) $ 2,662.22 due

B) $ 2,662.22 refund

C) $ 685.96 refund

D) $ 685.96 due

36)

A) $ 554.38 due

B) $ 5,973.22 refund

C) $ 554.38 refund

D) $ 5,973.22 due

37)

A) $ 402.35 refund

B) $ 5,590.35 due

C) $ 402.35 due

D) $ 5,590.35 refund

38)

A) $ 1,384.17 due

B) $ 11,424.23 due

C) $ 1,384.17 refund

D) $ 11,424.23 refund

39)

A) $ 335.55 refund

B) $ 16,646.90 refund

C) $ 335.55 due

D) $ 16,646.90 due

Find the tax in the following application problems. Use $4050 for each personal deduction, a

standard deduction of $6300 for single taxpayers, $12,600 for married taxpayers filing jointly, $6300 for

married taxpayers filing separately, and $9300 for head of household and the tax rate schedule.

40) Megan Cortez had an adjusted gross income of $55,704 last year. She had deductions of $939 for state income tax, $764 for property tax, $3,890 in mortgage interest, and $1,294 in contributions. Cortez claims one exemption and files as a single person.

A) $ 6,963.00

B) $ 8,329.25

C) $ 7,676.00

D) $ 10,051.00

Solution
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