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Jennifer is unmarried, age 47, and maintains the home where she and her 15-year-old dependent son, Oscar, live. He has wage and interest income. Jennifer
Jennifer is unmarried, age 47, and maintains the home where she and her 15-year-old dependent son, Oscar, live. He has wage and interest income.
Jennifer has the following tax information for 2019:
| Business income from sole proprietorship |
| 95,000 |
| Other taxable income items |
| 10,000 |
| Dividend income (no preferential rate) |
| 4,000 |
| Estimated tax payments |
| 25,000 |
| Itemized deductions |
| 19,000 |
Compute her AGI, taxable income, tax liability, and federal tax refund or amount due
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