Question
#1. Your W-2 form reports that your total wages were $76,890 for 2018. Your W-2 form also reports that $9,187 was withheld from your wages
#1. Your W-2 form reports that your total wages were $76,890 for 2018. Your W-2 form also reports that $9,187 was withheld from your wages for federal income tax. You receive a 1099-INT from your bank that indicated interest earned of $5866. You are single and not claimed by any other person as a dependent.
How much is your adjusted gross income?
76890 + int earned 5866 = 82756
How much is your taxable income?
82756 - 12000 = 70756
What is your total tax for the year?
What is the amount of your payment or refund?
What tax bracket does this person fall into?
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Inventory Best Practices
Authors: Steven M. Bragg
2nd Edition
1118000749, 9781118000748
