Question
1. Pippa is a nurse and earned salary of $63,550 during 2021. Additionally, she received $1,000 of qualified dividends from an investment. What is her
1. Pippa is a nurse and earned salary of $63,550 during 2021. Additionally, she received $1,000 of qualified dividends from an investment. What is her total tax liability in 2021 if she takes the standard deduction, and her filing status is Single? Hint: Remember to consider the character of her income.
a. | $6,749 | |
b. | $6,899 | |
c. | $9,510 | |
d. | $9,729 | |
e. | none of the above |
2. Which of the following is most accurate with regard to monetary values?
a. | Gross income > Adjusted gross income > Taxable income | |
b. | Adjusted gross income > Gross income > Taxable income | |
c. | Taxable income > Adjusted gross income > Gross income | |
d. | Taxable income > Gross income > Adjusted gross income |
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