Calculate Margaret's taxable income? What impact will an additional  tax credit have on your federal income taxes owed?

State income tax $2,150  Charitable gifts $1,25

 

 You are in the 24 percent marginal tax bracket and itemize deductions.

 Margaret Moore is single and her adjusted gross income in 2019 was $73,000. She had the following expenses:  Medical expenses $4,500  Mortgage interest$11,000  Property taxes $2,750  0