Question
Emily, age 38 and married, has decided to file a separate return for the tax year 2018. Her wages from her job are expected to
Emily, age 38 and married, has decided to file a separate return for the tax year 2018. Her wages from her job are expected to be $240,000. In addition, her interest income from the savings account and dividends from the CDs at the credit union is expected to total $7,600. Her spouse will not itemize deductions. If she takes the standard deduction, has no adjustments to income, and claims no dependents, what would her projected federal income tax be for 2019? Use the following 2019 Tax Computation Worksheet: Taxable Income (Bracket) (a) Enter the bracket Income (b) Multiplication Amount (c) Multiply (a) by (b) (d) Addition Amount Tax Add (c) + (d) $235,400 (35%) x 35% $46,628.50 Over 306,175 x 37% $82,354.75
a) $54,453.50 b) $55,431.00 c) $53,313.50 d) $57,583.50 2. If Emily's income was $315,000 with $7,600 in dividends, what would be her federal projected tax for 2019? a) $83,918.00 b) $79,563.50 c) $81,681.00 d) $83,992.00
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