Question
Assume that Maria Gonzalez was 36 years old when she filed her 2022 tax return. She has 2 kids ages 5 & 12 years old
Assume that Maria Gonzalez was 36 years old when she filed her 2022 tax return. She has 2 kids ages 5 & 12 years old who she claimed as dependents on her tax return. Also, her W2 wages were $60,000, $5,000 was received from unemployment income and her federal withholdings were $5,200. She also donated $10,500 to her needy friends and gave $12,000 to her church as tithes. Also, her sales tax was $569. Assume that her total tax from the IRS tax table was $5.182. Based on the following facts above, What is Marias?
Filing Status __________________
Total Income $____________________
Adjusted Gross Income (AGI) $______________________
Standard Deduction $___________________________
Total Itemized Deduction $ ________________________
Taxable Income $_______________________________
Child Tax Credit (CTC) $ _______________________
Tax Refund $____________________________
Tax owed, if any $ _________________________
HINT: Use the 1040 form & schedule 1, Individual Income Tax Formula, the chapter textbook content and the PowerPoint slides as references if needed. Also, see the 2022 IRS Standard Deductions on line 12 of the 1040 or you can google it.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started