Question
For questions 2 through 6, use the following information for the tax year 2022. Alicia, age 30, is a single taxpayer with W-2 wages of
For questions 2 through 6, use the following information for the tax year 2022. Alicia, age 30, is a single taxpayer with W-2 wages of $96,000. In addition, Alicia receives $6,000 of tax-exempt interest income and she has $5,000 interest income from her savings account at Citibank. She has from AGI deductions totaling $10,000.
Question #2: What is Alicia's gross income, subject to tax? a. $90,000 b. $96,000 c. $101,000 d. $102,000 e. $107,000
QUESTION 3 What is Alicia's adjusted gross income? a. $91,000 b. $96,000 c. $101,000 d. $102,000 e. $107,000
QUESTION 4 What is Alicia's taxable income? a.$88,050 b.$88,450 c.$90,000 d.$90,100 e.$96,000
QUESTION 5 What is Alicia's tax liability (rounded)? a.$10,181 b.$14,605 c.$14,751 d.$14,988 e.$21,250
QUESTION 6 What is Alicias marginal tax rate? a. 10% b. 12% c. 22% d. 24% e. 32%
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