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1. Determine the taxable income for each of the following taxpayers. Number of Type of Exemptions Adjusted Gross Income Taxable Income Return Deductions a. $28,700
1. Determine the taxable income for each of the following taxpayers. Number of Type of Exemptions Adjusted Gross Income Taxable Income Return Deductions a. $28,700 1 Single Standard b. $52,450 4 Head of household Standard c. S34.700 2 Joint Standard d. S16.452 1 Single SS.200 - e. S43,700 6 Joint $14.120 3. George Sampson is 52 years old. His wife Marcia is 49. They have $34,300 total income. They file a joint return and take the standard deduction. a. What is the Sampsons' taxable income? b. What is the Sampsons' income tax? 5. Michael and Martha Miller are married and have three dependents living with them: their children, aged 17 and 19, and Martha's mother. Michael's salary for the year was $30,000, and Martha's salary was $32,000. They received taxable interest of $1,250 and $500 interest from a state bond. They take the standard deduction and file a joint return. 11. What is their taxable income? b. What is their net tax after credits? 1. Determine the taxable income for each of the following taxpayers. Number of Type of Exemptions Adjusted Gross Income Taxable Income Return Deductions a. $28,700 1 Single Standard b. $52,450 4 Head of household Standard c. S34.700 2 Joint Standard d. S16.452 1 Single SS.200 - e. S43,700 6 Joint $14.120 3. George Sampson is 52 years old. His wife Marcia is 49. They have $34,300 total income. They file a joint return and take the standard deduction. a. What is the Sampsons' taxable income? b. What is the Sampsons' income tax? 5. Michael and Martha Miller are married and have three dependents living with them: their children, aged 17 and 19, and Martha's mother. Michael's salary for the year was $30,000, and Martha's salary was $32,000. They received taxable interest of $1,250 and $500 interest from a state bond. They take the standard deduction and file a joint return. 11. What is their taxable income? b. What is their net tax after credits
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