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4. Tax Computations. (Obj. 1) Compute the taxable income and income tax liability (before credits) for each of the following taxpayers. Each taxpayer uses the
4. Tax Computations. (Obj. 1) Compute the taxable income and income tax liability (before credits) for each of the following taxpayers. Each taxpayer uses the standard deduction. a. A widowed taxpayer, age 30, has one dependent. Her filing status is qualifying widow(er); AGI is $46,400. b. An unmarried taxpayer, age 74, has no dependents and AGI of $19,590. c. A taxpayer, age 40, is married but files a separate return from his spouse. The taxpayer is the noncustodial parent of his eight-year-old child. His wife has signed Form 8332 giving him the right to claim their daughter as a dependent. AGI is $130,580. d. An unmarried taxpayer, age 72, is claimed as a dependent on her son's return. Her AGI consists solely of $3,150 of taxable interest. e. A married couple, ages 67 and 66, file a joint return. They claim one dependent. AGI is $161,555
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