Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

(answers are incorrect in my work) Calculate the total 2017 tax liability for a surviving spouse with one dependent child with a gross income of

image text in transcribed

image text in transcribed

(answers are incorrect in my work)

Calculate the total 2017 tax liability for a surviving spouse with one dependent child with a gross income of $47,800, no salary reductions for employer-provided benefits, and no itemized deductions. Assuming the single parent taxpayer's filing status is Married Filing Jointly or Surviving Spouse, the taxpayer's standard deduction for the 2017 tax year is $ (Round to the nearest dollar.) Click the following link for a standard deduction table. Data Table Standard Deduction Amounts Filing Status Single Married Filing Jointly or Surviving Spouse 2017 $6,350 $12,700 $9,350 $6,350 Head of Household Married Filing Separately Personal Exemptions in 2017: $4,050 Child Tax Credit in 2017: $1,000 per child Print Done Assuming the single parent taxpayer's filing status is Married Filing Jointly or Surviving Spouse, the taxpayer's standard deduction for the 2017 tax year is $12700. (Round to the nearest dollar.) Click the following link for a standard deduction table. E Since the taxpayer has one dependent child, the taxpayer's exemptions for the 2017 tax year is $ 8,100. (Round to the nearest dollar.) The taxpayer's taxable income for the 2017 tax year is $ 32,720" (Round to the nearest dollar.) The taxpayer's child tax credit amount for the 2017 tax year is $ 1000. (Round to the nearest dollar.) The taxpayer's total income tax due for the 2017 tax year is $36770. (Round to the nearest cent.) Click the following link for the tax rates and brackets table. E Calculate the total 2017 tax liability for a surviving spouse with one dependent child with a gross income of $47,800, no salary reductions for employer-provided benefits, and no itemized deductions. Assuming the single parent taxpayer's filing status is Married Filing Jointly or Surviving Spouse, the taxpayer's standard deduction for the 2017 tax year is $ (Round to the nearest dollar.) Click the following link for a standard deduction table. Data Table Standard Deduction Amounts Filing Status Single Married Filing Jointly or Surviving Spouse 2017 $6,350 $12,700 $9,350 $6,350 Head of Household Married Filing Separately Personal Exemptions in 2017: $4,050 Child Tax Credit in 2017: $1,000 per child Print Done Assuming the single parent taxpayer's filing status is Married Filing Jointly or Surviving Spouse, the taxpayer's standard deduction for the 2017 tax year is $12700. (Round to the nearest dollar.) Click the following link for a standard deduction table. E Since the taxpayer has one dependent child, the taxpayer's exemptions for the 2017 tax year is $ 8,100. (Round to the nearest dollar.) The taxpayer's taxable income for the 2017 tax year is $ 32,720" (Round to the nearest dollar.) The taxpayer's child tax credit amount for the 2017 tax year is $ 1000. (Round to the nearest dollar.) The taxpayer's total income tax due for the 2017 tax year is $36770. (Round to the nearest cent.) Click the following link for the tax rates and brackets table. E

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

Illustrating Finance Policy With Mathematica

Authors: Nicholas L. Georgakopoulos

1st Edition

3319953710, 978-3319953717

More Books

Students also viewed these Finance questions