Question
Determine the tax liability for tax year 2021 in each of the following instances. In each case, assume the taxpayer can take only the standard
Determine the tax liability for tax year 2021 in each of the following instances. In each case, assume the taxpayer can take only the standard deduction.
Use the appropriate Tax Tables and Tax Rate Schedules.
- A single taxpayer, not head of household, with AGI of $23,693 and one dependent.
- A single taxpayer, not head of household, with AGI of $172,787 and no dependents.
Note: Round your intermediate computations to 2 decimal places and final answer to the nearest dollar amount.
- A married couple filing jointly with AGI of $40,145 and two dependents.
- A married couple filing jointly with AGI of $162,488 and three dependents.
Note: Round your intermediate computations to 2 decimal places and final answer to the nearest dollar amount.
- A married couple filing jointly with AGI of $303,785 and one dependent.
Note: Round your intermediate computations to 2 decimal places and final answer to the nearest dollar amount.
- A taxpayer filing married filing separately with AGI of $69,196 and one dependent.
- A qualifying widow, age 66, with AGI of $49,440 and one dependent.
- A head of household with AGI of $14,774 and two dependents.
- A head of household with AGI of $59,426 and one dependent.
Note: For all requirements, use the Tax Tables for taxpayers with taxable income under $100,000 and the Tax Rate Schedules for those with taxable income above $100,000.
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