Sally, age 44, has 3 dependent children between age 6 and 17. The children live with her and qualify as her dependents, and she can file as Head of Household. Her gross income is $90,000. Assume she has no adjustments to gross income, so her AGI = $90,000. What is her tax from the table (Line 16 of 2021 form 1040)?

Q: Agnes, a resident taxpayer, has a taxable income of $50,000 for the income tax year ended 30 June…

A: PAYG is pay as you go is amount  of tax deducted by employer  at source. After filing income  tax…

Q: Ross is single with an adjusted gross income of $67,100, and he uses the standard deduction for…

A: It is the amount of tax payable to the government by the taxpayer on their taxable income. This tax…

Q: Mark, age 66, is single and has no dependents. His AGI is $56,000 and his itemized deductions are…

A: The taxable income of an individual depends on the Aggregate Gross Income and the deduction allowed…

Q: Trey has two dependents, his daughters, ages 14 and 18, at year-end. Trey files a joint return with…

A: Taxes are the amount of dues or liabilities that needs to be paid by individual to government. These…

Q: Mr. Jacob Marley is single with no children and takes the standard deduction and one exemption.  If…

A: Annual Income - $81400 Single Standard Tax Deduction - $6300 Personal Exemption Amount - $4050

Q: Ross is single with an adjusted gross income of $73,100, and he uses the standard deduction for…

A: It is the amount of tax payable to the government by the taxpayer on their taxable income. This tax…

Q: Kamryn Brown is single and earns $50,000 in taxable income and will use the following tax rate…

A: The question is related to the taxation of single individual as per the tax slab given.

Q: Marsha is 23 years old and single. She cannot be claimed as a dependent by another taxpayer. •…

A: Taxable income is the amount of income computed to measure the amount of taxes to be paid to the…

Q: Olga is married and files a joint tax return with her husband. What amount of AMT exemption may she…

A: Amount of AMT Deduction phases out or decreases 25% for every increase in AMTI above $1,047,200…

Q: nswer to 2 decimal places.) A. Her $44,600 of taxable income includes $3,600 of qualified…

A: Calculation of tax liability in A. Qualified dividend are taxed as capital gains. Therefore, total…

Q: Patty Banyan is a single taxpayer, age 27 (birthdate May 18, 1992) living at 543 Space Drive,…

A: Form W-2: It is the IRS tax form used in the Country U, to report the total wages paid by the…

Q: Lynn is a single mother with two children. She qualifies to file as head of household. Her total…

A: Tax liability: When the assessee is earned their income from the different kinds of sources of the…

Q: Marsha is 23 years old and single. She cannot be claimed as a dependent by another taxpayer. Marsha…

A: Filling a tax return means to fill a form in which a tax payer has to mention his earnings, all his…

Q: Brian and Kim have a 12-year-old child, Stan. For 2019, Brian and Kim have taxable income of…

A: Tax:   A tax is a compulsory charge or a levy imposed upon a taxpayer by a government organization…

Q: Ross is single with an adjusted gross income of $68,100, and he uses the standard deduction for…

A: Income tax: It implies to a financial levy or charge that is imposed on the income of taxpayer by…

Q: Ross is single with an adjusted gross income of $69,100, and he uses the standard deduction for…

A:

Q: On February 1, 2021, Stephen (who is single) sold his principal residence (home 1) at a $100,000…

A: Here in this context Stephen sell the Home one with a gain of $100000 and exclude entire gain on the…

Q: Denise's child tax credit for 2019 is

A: Tax credit is defined as the reduction in the tax liability of the taxpayer. It is known as tax…

Q: Laura is filling her 2021 tax return and is calculating her personal exemption.  Single and age 25…

A: As per income tax Act 1961 As an Assesse file return under section 139  Where the exemption for…

Q: Jacob is single with no dependents. During 2020, he has $51,000 of taxable income. He also has…

A: Alternate minimum tax: Alternate minimum tax can be defined as the minimum amount of tax or the…

Q: Alexandra, single with no dependents, has waterfront rental property in Maine, but she is a…

A: Income Taxes- Taxes at the federal and state levels are imposed on the income of people, businesses,…

Q: Beatrice, age 12, is a dependent of her parents. She earned wages of 1500 and had taxable interest…

A: Since Beatrice is a dependent minor, her taxable income would be calculated as per section 1(j)(4)…

Q: Jorge Gomez is a single taxpayer. His SSN is 412-34-5670, and he lives at 5037 Circle Court,…

A: 1040 for a Single taxpayer with no dependents 1040 PG 1 1040 PG 2 Schedule 1 Schedule B Schedule…

Q: Sarah is married filing separetly with taxable income of 67100 the tax table lists her rate at 25 %…

A: The Internal Revenue Service (IRS) states that every individual, and every company must pay tax to…

Q: Clarita is a single taxpayer with two dependent children, ages 10 and 12. Clarita pays $3,000 in…

A: Standard deduction refers to the non-taxable portion of income. It is based on the age, filing…

Q: Ross is single with an adjusted gross income of $69100, and he uses the standard deduction ($12,000)…

A: Tax has been calculated on the basis of formula given i.e. 4453.50 + 22% over $ 38,700.

Q: Trey has two dependents, his daughters, ages 14 and 18, at year-end. Trey files a joint return with…

A: 14-year child can get a child tax credit i.e $3,000 And 18 year old can be claimed as dependent i.e…

Q: Juanita is a single and is self-employed. Juanita owed $1,300 in taxes on her 2019 return and…

A: Answer with explanation are as follows.

Q: Paul, age 40 and single, has an 8-year-old son, Larry. Larry resides with his mother, Susan, in her…

A: Answer:-  Standard deduction:- Standard deduction is that portion of income which is not subject to…

Q: Mazik, age 17, is a dependent of his parents.Mazik earned wages of $12,500 and had no investment…

A: Solution -  A wages $12500 AGI $12500   B Standard deduction= $12150  greater of $1100 or…

Q: Karen Most has a federal tax levy of $2,100.50 against her. If Most is single with two personal…

A: Federal tax levy: The amount of taxes levied on an employee's take-home pay, based on the levy rate…

Q: Joyce is a widowed taxpayer whose husband Willard passed away on March 31, 2020. Joyce and Willard…

A: Based on the given data, Purchase cost of the home on September 12, 2004 = $215,000 Sale price of…

Q: Lacy is a single taxpayer. In 2021, her taxable income is $42,000. What is her tax liability in each…

A: Tax liability is a payment owing to a federal, state, or municipal tax body by an individual, a…

Q: evelyn is 68 years old, her tax filing status is single, her adjusted gross income (AGI) is $16,000,…

A: Credit for the elderly or permanently and totally disabled is available subject to certain income…

Q: Trey has two dependents, his daughters, ages 14 and 18, at year-end. Trey files a joint return with…

A: It is subject to phase outs when Married filing Jointly Adjusted Gross Income > $ 400,000 /- by…

Q: Libby is a single mom with two kids.How many exemptions can she claim on her federal income tax…

A: Exemption of dependent persons: A single parent is allowed to claim applicable deductions and…

Q: Nelta is a single taxpayer who qualifies for the earned income credit. She has two qualifying…

A: Earned income credit: The earned income credit is a refundable tax credit for working couples and…

Q: Kate is an accrual basis, calendar-year taxpayer. On November 1, 2021, Kate leased out a building…

A: The question is related to the income from house property. The details are given. Monthly Rent =…

Q: Bill is a single taxpayer, age 27. In 2020, his salary is $29,000 and he has interest income of…

A: 1. Calculation of Gross Income and adjusted Gross income   CALCULATION PARTICULAR AMOUNT…

Q: In each of the following situations, determine whether the taxpayer(s) has/have a dependent and if…

A: Dependent: A dependent is a person who is financially reliant on another person, and this might…

Q: . Mary is age 33 and a single taxpayer with adjusted gross income for 2018 of $29,400. Mary…

A: The Tax Cuts and Jobs Act (TCJA) increased the standard deduction amounts for 2018 well beyond what…

Q: Eugene and Velma are married. For 2020, Eugene earned $25,000 and Velma earned $30,000. They have…

A: For the purpose of calculation of tax liability, itemized deductions are those deductions that can…

Q: Ross is single with an adjusted gross income of $67,100, and he uses the standard deduction for…

A: Taxable income is the amount of income computed to measure the amount of taxes to be paid to the…

Q: Jane, a resident taxpayer, has a taxable income of $19,500 for the income tax year ended 30 June…

A: Assuming that the question pertains to Australian Income Tax (since Australia follows a July 1 to…

Q: PP operates a convenience store while she offers bookkeeping services to her clients. In 2020, her…

A: Gross sales amount, in this case, means the amount received from the total number of transactions at…

Q: Diego, age 28, married Dolores, age 27, in 2019. Their salaries for the year amounted to $80,000 and…

A: Tax liability: When the assessee is earned the income of among any of the sources of income then its…

Q: Clarita is a single taxpayer that lives in the U.S. with two dependent children, ages 10 and 12.…

A: Child and dependent care credit: According to IRS, the person ( who incurred any expenses for the…

Q: Olga is married and files a joint tax return with her husband. What amount of AMT exemption may she…

A: The AMT is charged at two rates: 26% and 28%. For the year 2021, the AMT exemption level is $73,600…

Q: Trey has two dependents, his daughters, ages 14 and 18, at year-end. Trey files a joint return with…

A: In order to qualify for the Child Tax Credit, the Child's age must be under 17 and Child Tax Credit…