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Determination of Tax Dawn is a single taxpayer. Her income and expenses for the year is as follows: Income Salary - $ 6 9 ,
Determination of Tax
Dawn is a single taxpayer. Her income and expenses for the year is as follows:
Income
Salary $
Interest $
Short term capital loss $
Expenses
Medical expenses $
Home mortgage interest $
Property Taxes $
Charitable contributions $
Requirements A Compute Maria's adjusted gross income
Requirement B Compute Maria's taxable income.
Start by computing Dawn's adjusted gross income and then her taxable income.
Requirement C Compute Dawn's tax liability. Use the tax rate schedule below for all tax calculations. Do not round any intermediary calculations. Round your final tax liability to the nearest whole dollar.
MARGINAL TAX BRACKETS
SINGLE INDIVIDUALS
tabletableMARGINAL TAX BRACKETSSINGLE INDIVIDUALSTaxable Income,Taxes Owed$ or less, of the taxable income$ to $$ plus of amount over $
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