If you know the remaining parts, please include those as this the first part. If not, I will submit a separate question. Please use the fields presented.
Mike and Linda are a married couple who file jointly and have $100,000 of taxable income. They have three dependent children who are full-time students in 2020. Mike and Linda provided $8,000 of support for each child. Information for each child is as follows: 6 Click the icon to view the information.) Read the requirement Compute Karen's tax, assuming the interest income is taxable. Begin by computing the taxable income for Karen. Minus: IN Taxable income dren who i Reference - X Data Table on amounts.) for the Single filing status.) for the Married filing jointly filing status.) Karen Susan Amelie 21 18 16 $ Age Wages Interest income 3.000 $ 11.000 $ 5,900 Married, Filing Joint and Surviving Spouse If taxable income is: The tax is: Not over $19,750 10% of taxable income. Over $19,750 but not over $80,250 ...... $1,975.00 + 12% of the excess over $19,750. Over $80,250 but not over $171,050 ..... $9,235.00 + 22% of the excess over $80,250. Over $171,050 but not over $326,600 .... $29,211.00 +24% of the excess over $171,050. Over $326,600 but not over $414,700 .... $66,543.00 + 32% of the excess over $326,600. Over $414,700 but not over $622,050 $94,735.00 + 35% of the excess over $414,700. Over $622,050 $167,307.50 + 37% of the excess over $622,050. 2.800 2.400 2.300 Print Done Reference - X Print Done If taxable income is: $ 24,800 18,650 $ $ 12,400 Single The tax is: 10% of taxable income. .$987.50 + 12% of the excess over $9,875 . $4,617.50 + 22% of the excess over $40,125. ..... $14.605.50 +24% of the excess over $85,525. .... $33,271.50 + 32% of the excess over $163,300. .$47,367.50 + 35% of the excess over $207,350 $156,235.00 + 37% of the excess over $518,400. STANDARD DEDUCTION Filing Status Married individuals filing joint returns and surviving spouses Heads of households Unmarried individuals (other than surviving spouses and heads of households) Married individuals filing separate returns Additional standard deduction for the aged and the blind; Individual who is married and surviving spouses Additional standard deduction for the aged and the blind; Individual who is unmarried and not a surviving spouse Taxpayer claimed as dependent on another taxpayer's return: Greater of (1) earned income plus $350 or (2) $1,100. * These amounts are $2,600 and $3,300, respectively, for a taxpayer who is both aged and blind. Not over $9,875 Over $9,875 but not over $40,125 Over $40,125 but not over $85,525 Over $85,525 but not over $163,300 Over $163,300 but not over $207,350 Over $207,350 but not over $518,400 Over $518,400 $ 12,400 $1,300* $1,650* Print Done Print Done Mike and Linda are a married couple who file jointly and have $100,000 of taxable income. They have three dependent children who are full-time students in 2020. Mike and Linda provided $8,000 of support for each child. Information for each child is as follows: 6 Click the icon to view the information.) Read the requirement Compute Karen's tax, assuming the interest income is taxable. Begin by computing the taxable income for Karen. Minus: IN Taxable income dren who i Reference - X Data Table on amounts.) for the Single filing status.) for the Married filing jointly filing status.) Karen Susan Amelie 21 18 16 $ Age Wages Interest income 3.000 $ 11.000 $ 5,900 Married, Filing Joint and Surviving Spouse If taxable income is: The tax is: Not over $19,750 10% of taxable income. Over $19,750 but not over $80,250 ...... $1,975.00 + 12% of the excess over $19,750. Over $80,250 but not over $171,050 ..... $9,235.00 + 22% of the excess over $80,250. Over $171,050 but not over $326,600 .... $29,211.00 +24% of the excess over $171,050. Over $326,600 but not over $414,700 .... $66,543.00 + 32% of the excess over $326,600. Over $414,700 but not over $622,050 $94,735.00 + 35% of the excess over $414,700. Over $622,050 $167,307.50 + 37% of the excess over $622,050. 2.800 2.400 2.300 Print Done Reference - X Print Done If taxable income is: $ 24,800 18,650 $ $ 12,400 Single The tax is: 10% of taxable income. .$987.50 + 12% of the excess over $9,875 . $4,617.50 + 22% of the excess over $40,125. ..... $14.605.50 +24% of the excess over $85,525. .... $33,271.50 + 32% of the excess over $163,300. .$47,367.50 + 35% of the excess over $207,350 $156,235.00 + 37% of the excess over $518,400. STANDARD DEDUCTION Filing Status Married individuals filing joint returns and surviving spouses Heads of households Unmarried individuals (other than surviving spouses and heads of households) Married individuals filing separate returns Additional standard deduction for the aged and the blind; Individual who is married and surviving spouses Additional standard deduction for the aged and the blind; Individual who is unmarried and not a surviving spouse Taxpayer claimed as dependent on another taxpayer's return: Greater of (1) earned income plus $350 or (2) $1,100. * These amounts are $2,600 and $3,300, respectively, for a taxpayer who is both aged and blind. Not over $9,875 Over $9,875 but not over $40,125 Over $40,125 but not over $85,525 Over $85,525 but not over $163,300 Over $163,300 but not over $207,350 Over $207,350 but not over $518,400 Over $518,400 $ 12,400 $1,300* $1,650* Print Done Print Done
