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Calculating Tax Liability Refer to the Tax Rate Schedules to answer the following questions. Calculate the 2020 tax liability and the tax or refund due
Calculating Tax Liability
Refer to the Tax Rate Schedules to answer the following questions.
Calculate the 2020 tax liability and the tax or refund due for each situation.
Round interim and final answers to the nearest dollar.
c. | Aspra is single. His 20-year-old son, Calvin, lives with him throughout the year. Calvin pays for less than one-half of his support and his earned income for the year is $3,000. Aspra pays all costs of maintaining the household. His taxable income is $60,000. Aspras withholdings total $7,800. | 2020 Net Tax Liability $_________ | Tax or refund $_________ |
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