Question
Determine the tax liability for tax year 2022 in each of the following instances. In each case, assume the taxpayer can take only the standard
Determine the tax liability for tax year 2022 in each of the following instances. In each case, assume the taxpayer can take only the standard deduction.
Use the Tax Tables for taxpayers with taxable income under $100,000 and the Tax Rate Schedulesfor those with taxable income above $100,000.
Required:
- A single taxpayer, not head of household, with AGI of $24,193 and one dependent.
- A single taxpayer, not head of household, with AGI of $180,297 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 $40,645 and two dependents.
- A married couple filing jointly with AGI of $162,988 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 $308,380 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 $69,696 and one dependent.
- A qualifying widow, age 66, with AGI of $49,940 and one dependent.
- A head of household with AGI of $15,729 and two dependents.
- A head of household with AGI of $59,926 and one dependent.
2_Carl and Karina file a joint return. Karina earned a salary of $42,250 and received dividends of $3,340, taxable interest income of $2,170, and nontaxable interest of $1,085. Carl received $9,680 of social security benefits and a gift of $6,170 from his brother. What amount of social security benefits is taxable to Carl and Karina?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started