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I uploaded the wrong question! I had figured out number 9, can you help me with 7? It says all my numbers are correct but
I uploaded the wrong question! I had figured out number 9, can you help me with 7? It says all my numbers are correct but its incomplete and i dont know the description for the 0 amount.
9 Part 2 of 2 Required information (The following information applies to the questions displayed below.) Brooke, a single taxpayer, works for Company A for all of 2020, earning a salary of $54,000. 1 points b. Assume Brooke works for Company A for half of 2020, earning $54,000 in salary, and she works for Company B for the second half of 2020, earning $94,000 in salary. What is Brooke's FICA tax obligation for the year? (Round your intermediate calculations to the nearest whole dollar amount.) Answer is complete but not entirely correct. FICA tax obligation 11,3223 7 0 1 points Required information [The following information applies to the questions displayed below.) In 2020, Nadia has $138,000 of regular taxable income. She itemizes her deductions as follows: real property taxes of $3,400, state income taxes of $3,900, and mortgage interest expense of $19,500 (acquisition indebtedness of $200,000). In addition, she receives tax-exempt interest of $4,800 from a municipal bond (issued in 2006) that was used to fund a new business building for a (formerly) out-of-state employer. Finally, she received a state tax refund of $1,250 from the prior year. eBook References a-1. What is Nadia's AMT this year if she deducted $19,750 of itemized deductions last year and did not owe any AMT last year? (Amounts to be deducted should be indicated by a minus sign.) Amount 138,000 Description Regular taxable income Real estate taxes State income taxes 3,400 3.900 0 interest from private activity bond State tax rotund 4,800 (1.250) AMTI S 148,850 Step by Step Solution
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