Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Ava's employer withheld $4,500 in federal income taxes from her paychecks (in the aggregate). The 2022 standard deduction amount for MFJ taxpayers is $25,900. a.
Ava's employer withheld $4,500 in federal income taxes from her paychecks (in the aggregate). The 2022 standard deduction amount for MFJ taxpayers is $25,900. a. In the boxes below, enter the amounts of all items that would be included in the couple's gross income. Enter them separately in the boxes. You may not use all of the boxes. If there are more boxes than you need, leave them blank. ( 5 points) 1. If you have to round any numbers, round them to the nearest dollar. Use the following facts as well as the married filing jointly (MFJ) tax rate table found in Appendix A to this test to answer the following questions. William and Ava are married. Ava works as a high school counselor and William is a self-employed artist. William does not qualify to participate in Ava's health insurance plan that's provided by Ava's employer. In 2022, William and Ava realized the following items of income and expense: aggregate). The 2022 standard deduction amount for MFJ taxpayers is $25,900. b. In the box below, sum the items that you list above in part a and enter total gross income. (1 point) Total Gross Income = c. What are William and Ava's "for AGI" deductions? Enter the amount of each "for AGI" deduction separately in the boxes below. You may not use all of the boxes. If there are more boxes than you need, leave the ones you don't need blank. (5 points) d. In the box below, sum the items that you list above in part c and enter the total "for AGI" deductions. (1 point) Total "for AGI" deductions: e. What is William and Ava's adjusted gross income? (2 points)
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