Charlotte (age 40) is a surviving spouse and provides all of the support of her four minor children who live with her (all are under age 16). She also maintains the household in which her parents live and furnished 60% of their support. Besides interest on City of Miami bonds in the amount of $5,500, Charlotte's father received $2,400 from a part-time job. Charlotte has a salary of $80,000, a short-term capital loss of $2,000, a cash prize of $4,000 from a church raffle, and itemized deductions of $10,500.

Click here to access thestandard deduction tableto use, if required. If an amount is zero, enter "$0".

a.Compute Charlotte's taxable income.

$57200

b.Using the Tax Rate Schedules (see the attachment), tax liability (before any allowable credits) for Charlotte is $for 2020.

c.Compute Charlotte's child and dependent tax credit.

Charlotte's child tax credit is $, of which $may be refundable and her dependent tax credit is $of which $may be refundable.

If taxable of the If taxable of the income is: But not amount income is: But not amount Over- over- The tax is: over- Over- over- The tax is: over- $ 0 $ 9,875 ....10% $ 0 $ 0 $ 14,100 . . .. .... 10% $ 0 9,875 40,125 $ 987.50 + 12% 9,875 14,100 53,700 $ 1,410.00 + 12% 14,100 40,125 85,525 4,617.50 + 22% 40,125 53,700 85,500 6,162.00 + 22% 53,700 85,525 163,300 14,605.50 + 24% 85,525 85,500 163,300 13,158.00 + 24% 85,500 163,300 207,350 33,271.50 + 32% 163,300 163,300 207,350 31,830.00 + 32% 163,300 207,350 518,400 47,367.50 + 35% 207,350 207,350 518,400 45,926.00 + 35% 207,350 518,400 156,235.00 + 37% 518,400 518,400 154,793.50 + 37% 518,400 Married filing jointly or Qualifying widow(er)- Married filing separately- Schedule Y-2 Schedule Y-1 If taxable of the If taxable of the income is: But not amount income is: But not amount Over- over- The tax is: over- Over- over- The tax is: over- S 0 $ 19,750 . . . . . .. .. 10% 0 S 0 $ 9,875 ...10% $ 0 19,750 80,250 $ 1,975.00 + 12% 19,750 9,875 40,125 $ 987.50 + 12% 9,875 80,250 171,050 9,235.00 + 22% 80,250 40,125 85,525 4,617.50 + 22% 40,125 171,050 326,600 29,211.00 + 24% 171,050 85,525 163,300 14,605.50 + 24% 85,525 326,600 414,700 66,543.00 + 32% 326,600 163,300 207,350 33,271.50 + 32% 163,300 414,700 622,050 94,735.00 + 35% 414,700 207,350 311,025 47,367.50 + 35% 207,350 622,050 ... ..... 167,307.50 + 37% 622,050 311,025 . . . . . . . . . 83,653.75 + 37% 311,025Basic Standard Deduction Amounts Filing Status 2019 2020 Single $12,200 $12,400 Married, filing jointly 24,400 24,800 Surviving spouse 24,400 24,800 Head of household 18,350 18,650 Married, filing separately 12,200 12,400 Certain taxpayers are not allowed to claim any standard deduction, and the standard deduction is limitedExhibit 3.5 Additional Standard Deduction Amounts Filing Status 2019 2020 Single $1,650 $1,650 Married, filing jointly 1,300 1,300 Surviving spouse 1,300 1,300 Head of household 1,650 1,650 Married, filing separately 1,300 1,300