Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

5 Required: Determine the tax liability for tax year 2019 in each of the following instances. In each case, assume the taxpayer can take only

image text in transcribed

5 Required: Determine the tax liability for tax year 2019 in each of the following instances. In each case, assume the taxpayer can take only the standard deduction. Use the appropriate Tax Tables and Tax Rate Schedules. 4 points a. A single taxpayer, not head of household, with AGI of $43,010 and one dependent. b. A single taxpayer, not head of household, with AGI of $192,313 and no dependents. (Round your intermediate computations to 2 decimal places and final answer to the nearest dollar amount.) c. A married couple filing jointly with AGI of $41,445 and two dependents. d. A married couple filing jointly with AGI of $163,788 and three dependents. (Round your intermediate computations to 2 decimal places and final answer to the nearest dollar amount.) e. A married couple filing jointly with AGI of $315,732 and one dependent. (Round your intermediate computations to 2 decimal places and final answer to the nearest dollar amount.) f. A taxpayer filing married filing separately with AGI of $72,596 and one dependent. g. A qualifying widow, age 66, with AGI of $72,075 and one dependent. h. A head of household with AGI of $17,257 and two dependents. i. A head of household with AGI of $72,546 and one dependent. (For all requirements, use the Tax Tables for taxpayers with taxable income under $100,000 and the Tax Rate Schedules for those with taxable income above $100,000.) 5 Required: Determine the tax liability for tax year 2019 in each of the following instances. In each case, assume the taxpayer can take only the standard deduction. Use the appropriate Tax Tables and Tax Rate Schedules. 4 points a. A single taxpayer, not head of household, with AGI of $43,010 and one dependent. b. A single taxpayer, not head of household, with AGI of $192,313 and no dependents. (Round your intermediate computations to 2 decimal places and final answer to the nearest dollar amount.) c. A married couple filing jointly with AGI of $41,445 and two dependents. d. A married couple filing jointly with AGI of $163,788 and three dependents. (Round your intermediate computations to 2 decimal places and final answer to the nearest dollar amount.) e. A married couple filing jointly with AGI of $315,732 and one dependent. (Round your intermediate computations to 2 decimal places and final answer to the nearest dollar amount.) f. A taxpayer filing married filing separately with AGI of $72,596 and one dependent. g. A qualifying widow, age 66, with AGI of $72,075 and one dependent. h. A head of household with AGI of $17,257 and two dependents. i. A head of household with AGI of $72,546 and one dependent. (For all requirements, use the Tax Tables for taxpayers with taxable income under $100,000 and the Tax Rate Schedules for those with taxable income above $100,000.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Speed Of Risk Lessons Learned On The Audit Trail

Authors: Richard F. Chambers, CIA, QIAL, CGAP, CCSA, CRMA

2nd Edition

163454059X, 978-1634540599

More Books

Students also viewed these Accounting questions