2021 Tax Rate Schedules Single-Schedule X If taxable income is: Over- over- But not of the amount over- of the amount over- The tax is: $ 0 $ 9,950 ......... 10% $ 0 Head of householdSchedule Z If taxable income is: But not Over- over- The tax is: $ 0 $ 14,200 ......... 10% 14,200 54,200 $ 1,420.00 + 12% 54,200 86,350 6,220.00 + 22% 86,350 164,900 13,293.00 + 24% $ 0 9,950 40,525 $ 995.00 + 12% 9,950 14,200 54,200 86,350 164,900 209,400 32,145.00 + 32% 164,900 209,400 523,600 46,385.00 + 35% 209,400 40,525 86,375 4,664.00 + 22% 40,525 86,375 164,925 14,751.00 + 24% 86,375 164,925 209,425 33,603.00 + 32% 164,925 209,425 523,600 47,843.00 + 35% 209,425 523,600 157,804.25 + 37% 523,600 Married filing jointly or Qualifying widow(er)- Schedule Y-1 If taxable of the income is: But not amount Over- over- The tax is: over- 523,600 156,355.00 + 37% 523,600 Married filing separatelySchedule Y-2 If taxable income is: Over- of the amount But not over- The tax is: over- $ 0 $ 19,900 ......... 10% $ 0 $ 0 $ 9,950 ......... 10% $ 0 19,900 81,050 $ 1,990.00 + 12% 19,900 9,950 40,525 $ 995.00 + 12% 9,950 172,750 9,328.00 + 22% 40,525 4,664.00 + 22% 81,050 172,750 29,502.00 + 24% 81,050 172,750 329,850 40,525 86,375 86,375 86,375 164,925 209,425 329,850 418,850 14,751.00 + 24% 329,850 67,206.00 + 32% 164,925 33,603.00 + 32% 164,925 418,850 628,300 95,686.00 + 35% 418,850 314,150 47,843.00 + 35% 209,425 209,425 314,150 628,300 168,993.50 + 37% 628,300 84,496.75 + 37% 314,150 Problem 3-37 (Algorithmic) (LO. 3, 7) Taylor, age 17, is claimed as a dependent by her parents. For 2021, she has the following income: $5,600 wages from a summer job, $1,885 interest from a money market account, and $1,875 interest from City of Chicago bonds. If required, round your answers to the nearest dollar. If required, round your answers to the nearest dollar. If an amount is zero, enter "O". Click here to access the 2021 tax rate schedule. a. Taylor's standard deduction for 2021 is $ Taylor's taxable income for 2021 is $ b. Compute Taylor's "net unearned income" for the purpose of the kiddie tax. $ Compute Taylor's tax liability. [Her parents file a joint return and have taxable income of $135,000 (no dividends or capital gains).] $