1 25 points Mrs Cora Yank (age 42) is divorced and has full custody of her 10 year old son, William Mrs Yank works as a medical technician in a Chicago hospital Her salary was $38,400, from which her employer withheld $1,045 federal income tax and $2,938 employee FICA tax Several years ago, Mrs Yank was seriously injured in a traffic accident caused by another driver's negligence This year, she received a $25,000 settlement from the driver's insurance company $20,000 as compensation for her physical injuries and $5,000 for lost wages during her convalescent period Because she was unable to work for the first seven weeks of the year, she collected $1,400 unemployment compensation from the state of Illinois Mrs Yank earned $629 interest on a savings account She contributed $800 to a traditional IRA She is not an active participant in any other qualified retirement plan Mrs Yank paid $10,800 rent on the apartment in which she and William live She received $1,600 alimony and $2,350 child support from her former husband under a divorce agreement executed in 2013 Mrs Yank is covered under her employer's medical reimbursement plan However, this year's medical bills exceeded her reimbursement limit by $1,630 Mrs Yank paid $1,062 income tax to Illinois Mrs Yank spent $470 on hospital shoes and uniforms Her employer didn't reimburse her for this expense Mrs Yank paid $1,300 for after school child care for William eBook Print References Required From the above information, compute Mrs Yank's 2021 federal income tax (including any AMT) and the amount due with her Form 1040 or the refund she should receive Assume the tax year is 2021 Use Individual tax rate schedules and Standard deduction table (Round all your intermediate calculations and final answers to the nearest whole dollar amount Leave no cells blank be sure to enter O wherever required ) Amount Adjusted gross income (AGI) Taxable income Mrs Yank's regular income tax AMT Mrs Yank's total tax liability (including AMT) Refund 0 Married Filing Jointly and Surviving Spouse If taxable income is Not over $19,900 Over $19,900 but not over $81,050 Over $81,050 but not over $172,750 Over $172,750 but not over $329,850 Over $329,850 but not over $418,850 Over $418,850 but not over $628,300 Over $628,300 The tax is 10 of taxable income $1,990 00 12 of excess over $19,900 $9,328 00 22 of excess over $81,050 $29,502 00 24 of excess over $172,750 $67,206 00 32 of excess over $329,850 $95,686 00 35 of excess over $418,850 $168 993 50 37 of excess over $628,300 Married Filing Separately If taxable income is Not over $9,950 Over $9,950 but not over $40,525 Over $40,525 but not over $86,375 Over $86,375 but not over $164,925 Over $164,925 but not over $209,425 Over $209,425 but not over $314,150 Over $314,150 The tax is 10 of taxable income $995 00 12 of excess over $9,950 $4,664 00 22 of excess over $40,525 $14,751 00 24 of excess over $86,375 $33,603 00 32 of excess over $164,925 $47,843 00 35 of excess over $209,425 $84,496 75 37 of excess over $314,150 Head of Household If taxable income is Not over $14,200 Over $14,200 but not over $54,200 Over $54,200 but not over $86,350 Over $86,350 but not over $164,900 Over $164,900 but not over $209,400 Over $209,400 but not over $523,600 Over $523,600 The tax is 10 of taxable income $1,420 00 12 of excess over $14,200 $6,220 00 22 of excess over $54,200 $13,293 00 24 of excess over $86,350 $32,145 00 32 of excess over $164,900 $46,385 00 35 of excess over $209,400 $156,355 00 37 of excess over $523,600 Single If taxable income is Not over $9,950 Over $9,950 but not over $40,525 Over $40,525 but not over $86,375 Over $86,375 but not over $164,925 Over $164,925 but not over $209,450 Over $209,450 but not over $523,600 The tax is 10 of taxable income $995 00 12 of excess over $9,950 $4,664 00 22 of excess over $40,525 $14,751 00 24 of excess over $86,375 $33,603 00 32 of excess over $164,925 $47,843 00 35 of excess over $209,425 Married filing jointly and surviving spouses Married filing separately Head of household Single $25,100 12,550 18,800 12,550

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1 25 points Mrs  Cora Yank (age 42) is divorced and has full custody of her 10 year old son, William  Mrs  Yank works as a medical technician in a Chicago hospital  Her salary was $38,400, from which her employer withheld $1,045 federal income tax and $2,938 employee FICA tax  Several years ago, Mrs  Yank was seriously injured in a traffic accident caused by another driver's negligence  This year, she received a $25,000 settlement from the driver's insurance company  $20,000 as compensation for her physical injuries and $5,000 for lost wages during her convalescent period  Because she was unable to work for the first seven weeks of the year, she collected $1,400 unemployment compensation from the state of Illinois  Mrs  Yank earned $629 interest on a savings account  She contributed $800 to a traditional IRA  She is not an active participant in any other qualified retirement plan  Mrs  Yank paid $10,800 rent on the apartment in which she and William live  She received $1,600 alimony and $2,350 child support from her former husband under a divorce agreement executed in 2013  Mrs  Yank is covered under her employer's medical reimbursement plan  However, this year's medical bills exceeded her reimbursement limit by $1,630  Mrs  Yank paid $1,062 income tax to Illinois  Mrs  Yank spent $470 on hospital shoes and uniforms  Her employer didn't reimburse her for this expense  Mrs  Yank paid $1,300 for after school child care for William eBook Print References Required  From the above information, compute Mrs  Yank's 2021 federal income tax (including any AMT) and the amount due with her Form 1040 or the refund she should receive  Assume the tax year is 2021  Use Individual tax rate schedules and Standard deduction table  (Round all your intermediate calculations and final answers to the nearest whole dollar amount  Leave no cells blank   be sure to enter  O  wherever required ) Amount Adjusted gross income (AGI) Taxable income Mrs  Yank's regular income tax AMT Mrs  Yank's total tax liability (including AMT) Refund 0 Married Filing Jointly and Surviving Spouse   If taxable income is Not over $19,900 Over $19,900 but not over $81,050 Over $81,050 but not over $172,750 Over $172,750 but not over $329,850 Over $329,850 but not over $418,850 Over $418,850 but not over $628,300 Over $628,300 The tax is 10  of taxable income $1,990 00  12  of excess over $19,900 $9,328 00  22  of excess over $81,050 $29,502 00  24  of excess over $172,750 $67,206 00  32  of excess over $329,850 $95,686 00   35  of excess over $418,850 $168 993 50  37  of excess over $628,300 Married Filing Separately If taxable income is Not over $9,950 Over $9,950 but not over $40,525 Over $40,525 but not over $86,375 Over $86,375 but not over $164,925 Over $164,925 but not over $209,425 Over $209,425 but not over $314,150 Over $314,150 The tax is 10  of taxable income $995 00  12  of excess over $9,950 $4,664 00  22  of excess over $40,525 $14,751 00  24  of excess over $86,375 $33,603 00  32  of excess over $164,925 $47,843 00  35  of excess over $209,425 $84,496 75  37  of excess over $314,150 Head of Household If taxable income is Not over $14,200 Over $14,200 but not over $54,200 Over $54,200 but not over $86,350 Over $86,350 but not over $164,900 Over $164,900 but not over $209,400 Over $209,400 but not over $523,600 Over $523,600 The tax is 10  of taxable income $1,420 00  12  of excess over $14,200 $6,220 00  22  of excess over $54,200 $13,293 00  24  of excess over $86,350 $32,145 00   32  of excess over $164,900 $46,385 00   35  of excess over $209,400 $156,355 00  37  of excess over $523,600 Single If taxable income is Not over $9,950 Over $9,950 but not over $40,525 Over $40,525 but not over $86,375 Over $86,375 but not over $164,925 Over $164,925 but not over $209,450 Over $209,450 but not over $523,600 The tax is 10  of taxable income $995 00  12  of excess over $9,950 $4,664 00  22  of excess over $40,525 $14,751 00  24  of excess over $86,375 $33,603 00  32  of excess over $164,925 $47,843 00  35  of excess over $209,425 Married filing jointly and surviving spouses Married filing separately Head of household Single $25,100 12,550 18,800 12,550

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1 25 points Mrs. Cora Yank (age 42) is divorced and has full custody of her 10-year-old son, William. Mrs. Yank works as a medical

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