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received $77,000 of taxable income in 2022. - she is married but file a separate tax return. Her taxable income is $77,000. What is the income tax liabilit

received $77,000 of taxable income in 2022. - she is married but file a separate tax return. Her taxable income is $77,000. What is the income tax liabilit

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter18: Accounting For Income Taxes
Section: Chapter Questions
Problem 2RE: Refer to RE18-1. Assume that Parkers taxable income for Year 1 is 150,000. Prepare the journal entry...
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Whitney received $77,000 of taxable income in 2022. - she is married but file a separate tax return. Her taxable income is $77,000. What is the income tax liability?
Schedule Y-2-Married Filing Separately If taxable income is over: But not over: $ 10,275 $ 41,775 $ 89,075 $ 170,050 $ 215,950 $ 323,925 $ 0 $ 10,275 $ 41,775 $ 89,075 $ 170,050 $215,950 $ 323,925 41°F Sunny The tax is: 10% of taxable income $1,027.50 plus 12% of the excess over $10,275 $4,807.50 plus 22% of the excess over $41,775 $15,213.50 plus 24% of the excess over $89,075 $34,647.50 plus 32% of the excess over $170,050 $49.335.50 plus 35% of the excess over $215,950 $87,126.75 plus 37% of the excess over $323,925
Transcribed Image Text:Schedule Y-2-Married Filing Separately If taxable income is over: But not over: $ 10,275 $ 41,775 $ 89,075 $ 170,050 $ 215,950 $ 323,925 $ 0 $ 10,275 $ 41,775 $ 89,075 $ 170,050 $215,950 $ 323,925 41°F Sunny The tax is: 10% of taxable income $1,027.50 plus 12% of the excess over $10,275 $4,807.50 plus 22% of the excess over $41,775 $15,213.50 plus 24% of the excess over $89,075 $34,647.50 plus 32% of the excess over $170,050 $49.335.50 plus 35% of the excess over $215,950 $87,126.75 plus 37% of the excess over $323,925
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