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can you help to slove the problem asis, calendar-year taxpayer. Her salary is $85,000, and she is single. She plans to purchase a residence in
can you help to slove the problem
asis, calendar-year taxpayer. Her salary is $85,000, and she is single. She plans to purchase a residence in 2021. tal $8,000. Each year, Violet contributes approximately $3,500 to charity. Her other itemized deductions total apprc roblem, assume that 2021 tax rates and standard deductions are the same as for 2020. n to view the standard deduction amounts.) mn to view the 2020 tax rate schedule for the Single filing status.) ments. ting Violet's taxable income for 2020 and 2021, then calculate the gross tax for each year. (Use the 2020 tax rate sche ediary calculations. Only round the amount you input in the cell to the nearest dollar.) 2020 2021 STANDARD DEDUCTION Filing Status ng joint returns and surviving spouses $ 24.800 $ 18,650 $ 12,400 $ 12,400 (other than surviving spouses and heads of households) ng separate returns duction for the aged and the blind; Individual who is married and surviving spouses duction for the aged and the blind; Individual who is unmarried and not a surviving spouse ependent on another taxpayer's return: Greater of (1) earned income plus $350 or (2) $1,100. 600 and $3,300, respectively, for a taxpayer who is both aged and blind. $1,300 $1,650* Single come is: The tax is: 10% of taxable income. Er $9,875 1,875 but not over $40,125 $987.50 + 12% of the excess over $9,875. 10,125 but not over $85,525 35,525 but not over $163,300 .. $4,617.50 + 22% of the excess over $40,125. . $14,605.50 + 24% of the excess over $85,525. .$33,271.50 + 32% of the excess over $163,300. . $47,367.50 + 35% of the excess over $207,350. 163,300 but not over $207,350 207,350 but not over $518,400 518,400 .. $156,235.00 + 37% of the excess over $518,400. asis, calendar-year taxpayer. Her salary is $85,000, and she is single. She plans to purchase a residence in 2021. tal $8,000. Each year, Violet contributes approximately $3,500 to charity. Her other itemized deductions total apprc roblem, assume that 2021 tax rates and standard deductions are the same as for 2020. n to view the standard deduction amounts.) mn to view the 2020 tax rate schedule for the Single filing status.) ments. ting Violet's taxable income for 2020 and 2021, then calculate the gross tax for each year. (Use the 2020 tax rate sche ediary calculations. Only round the amount you input in the cell to the nearest dollar.) 2020 2021 STANDARD DEDUCTION Filing Status ng joint returns and surviving spouses $ 24.800 $ 18,650 $ 12,400 $ 12,400 (other than surviving spouses and heads of households) ng separate returns duction for the aged and the blind; Individual who is married and surviving spouses duction for the aged and the blind; Individual who is unmarried and not a surviving spouse ependent on another taxpayer's return: Greater of (1) earned income plus $350 or (2) $1,100. 600 and $3,300, respectively, for a taxpayer who is both aged and blind. $1,300 $1,650* Single come is: The tax is: 10% of taxable income. Er $9,875 1,875 but not over $40,125 $987.50 + 12% of the excess over $9,875. 10,125 but not over $85,525 35,525 but not over $163,300 .. $4,617.50 + 22% of the excess over $40,125. . $14,605.50 + 24% of the excess over $85,525. .$33,271.50 + 32% of the excess over $163,300. . $47,367.50 + 35% of the excess over $207,350. 163,300 but not over $207,350 207,350 but not over $518,400 518,400 .. $156,235.00 + 37% of the excess over $518,400Step by Step Solution
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