Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Can you solve with working please. 4 (20 points). An unmarried taxpayer with no dependents had an adjusted gross income of $102,000 in 2014. His

image text in transcribed

Can you solve with working please.

4 (20 points). An unmarried taxpayer with no dependents had an adjusted gross income of $102,000 in 2014. His total itemized deductions were $9,850. What was his federal income tax? 2014 federal tax brackets married head of ratesingle joint separate household 10% 15% 36900 73800 36900 49400 25% 89350 148850 74425 127550 28% 186350 226850 113425 206600 33% 405100 405100 202550 405100 35% 406750 457600 228800 432200 39.6% >406750 >457600 >228800 >432200 9075 18150 9075 12950 standard deduction 6200 12400 6200 9100 phase 254200 305050 out (AGI) 376700 427550 Personal exemption amount is $3950/person

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles Of Financial Accounting

Authors: Jerry J. Weygandt, Lorena Mitrione, Michaela Rankin, Keryn Chalmers, Paul D. Kimmel

3rd Edition

0730302296, 978-0730302292

More Books

Students also viewed these Accounting questions