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11) Problem 1-14 Filing Status and Tax Computation (LO 1.5) Determine from the tax table provided the amount of the income tax for each of
11)
Problem 1-14 Filing Status and Tax Computation (LO 1.5) Determine from the tax table provided the amount of the income tax for each of the following taxpayers for 2020: Taxpayer(s) Filing Status Taxable Income Income Tax Allen Single $21,000 2,329.50 X Boyd MFS 24,545 $ 2,754.90 X Caldwell MF) 35,784 Dell Hof H 27,450 Evans Single 44,999 Problem 1-11 The Tax Formula for Individuals, Filing Status and Tax Computation, The Standard Deduction (LO 1.3, 1.5, 1.8) Wanda is a single 50-year-old taxpayer with no dependents. Her only income is $41,000 of wages. Calculate her taxable income and her tax liability. Table for the standard deduction Filing Status Standard Deduction Single $12,400 Married, filing jointly 24,800 Married, filing separately 12,400 Head of household 18,650 Qualifying widow(er) 24,800 Click here to access the tax tables. Taxable income: Tax liability
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