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Janet is completing her federal income taxes for the year and has identified the amounts listed here. How much can she rightfully deduct? AGI: $44,500
Janet is completing her federal income taxes for the year and has identified the amounts listed here. How much can she rightfully deduct?
- AGI: $44,500
- Medical and dental expenses: $1,350
- State income taxes: $1,250
- Mortgage interest: $8,000
- Charitable contributions: $1,700
Using the following table, calculate the taxes for an individual with taxable income of $47,000.
10 | % | Up to $10,200 | |
15 | % | $10,200 $51,000 | |
25 | % | $51,000 $100,600 | |
28 | % | $100,600 $199,900 | |
33 | % | $199,900 $413,150 | |
35 | % | Over $413,150 | |
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