INCOME

Wages, salaries, tips, etc

Capital gain or loss

other incone

Total incone

$1,250,000$

$1,100$

$60,000$

$1,311,100$

ADJUSTMENTS TO INCOME

Total adjustments

Adjusted gross incone.

ITEMIZED DEDUCTIONS

Taxes

Contributions

other miscellaneous deductions

Total itenized deductions

TAX COMPUTATION

Standard deduction.

Larger of Itemized or standard deduction

Taxable income

Tax before credits

CREDITS

Total credits

Tax after credits

OTHER TAXES

other taxes

Total tax.

PAYMENTS & REFUNDABLE CREDITS

Federal income tax withheld.

Estinated tax payments

Total payments

REFUND OR AMOUNT DUE

Amount overpaid

Anount refunded to you.

Anount you owe.

TAX RATES

Marginal tax rate

Effective tax rate

$1,311,100$