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Jim Simpson has gathered the following information for his 2020 federal tax return: Amount ($) Earnings from wages 49,500.00 Interest earned from GIC 125.00 Eligible

Jim Simpson has gathered the following information for his 2020 federal tax return:

Amount ($)
Earnings from wages 49,500.00
Interest earned from GIC 125.00
Eligible dividend income 200.00
RRSP deduction 2,500.00
Savings account interest 75.00
Child care deduction 6,700.00
Union Dues 480.00
Total non-refundable tax credit amounts 13,800.00
Federal income tax deducted at source 7,168.00
Filing status - head of household

Calculate the following items from his annual return and match the correct values from the drop-down list on the right.

Total Income

Answer 1Choose...$46,520.00$3,963.007.95%12.11%15%$2,070.00$40,296.00$1,123.60$6,044.40$3,193.60$49,900.00$2,980.00$9,690.00$47,976.00$49,500.00$26,420.00$3,974.40$23,480.00

Total Deductions

Answer 2Choose...$46,520.00$3,963.007.95%12.11%15%$2,070.00$40,296.00$1,123.60$6,044.40$3,193.60$49,900.00$2,980.00$9,690.00$47,976.00$49,500.00$26,420.00$3,974.40$23,480.00

Taxable Income

Answer 3Choose...$46,520.00$3,963.007.95%12.11%15%$2,070.00$40,296.00$1,123.60$6,044.40$3,193.60$49,900.00$2,980.00$9,690.00$47,976.00$49,500.00$26,420.00$3,974.40$23,480.00

Federal Tax Liability

Answer 4Choose...$46,520.00$3,963.007.95%12.11%15%$2,070.00$40,296.00$1,123.60$6,044.40$3,193.60$49,900.00$2,980.00$9,690.00$47,976.00$49,500.00$26,420.00$3,974.40$23,480.00

Average Federal Tax Rate

Answer 5Choose...$46,520.00$3,963.007.95%12.11%15%$2,070.00$40,296.00$1,123.60$6,044.40$3,193.60$49,900.00$2,980.00$9,690.00$47,976.00$49,500.00$26,420.00$3,974.40$23,480.00

Refund Amount

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