Jonathan is a 35-year-old single taxpayer with adjusted gross income in 2021 of $47,000. He uses the standard deduction and has no dependents.

Calculate Jonathans taxable income. Please show your work.

____________________________________________________________ When you calculate Jonathans tax liability are you required to use the tax tables or the tax rate schedules, or does it matter? _____________________________________________________________________________________ ______ Assuming no tax credits, what is Jonathans tax liability? _____________________________________________________________________________________ ______

LO 1.3, LO 1.5, LO 1.8 9. Brock, age 50, and Erin, age 49, are married with three dependent children. They file a joint return for 2021. Their income from salaries totals $50,000, and they received $8,000 in taxable interest, $5,000 in royalties, and $3,000 in other ordinary income. Brock and Erins deductions for adjusted gross income amount to $2,500, and they have itemized deductions totaling $19,250. Calculate the following amounts:

Gross income __________________________________________________________________________ Adjusted gross income ___________________________________________________________________

Itemized deduction or standard deduction amount _______________________________________________________ Taxable income ______________________________________________________ Income tax liability (Do not consider the alternative minimum tax covered in Chapter 6 or any credits.) ___________________________________________________________

LO 1.3, LO 1.5, LO 1.6, LO 1.8 10. Jackson, age 35, and Peggy, age 34, are married and file a joint income tax return for 2021. Their salaries for the year total $85,400 and they have dividend income of $4,000. They have no deductions for adjusted gross income. Their itemized deductions are $25,200. Jackson and Peggy do not have any dependents.

What is the amount of their adjusted gross income? ______________________________________________ What is their deduction for personal exemptions? _____________________________________________

What is the amount of their taxable income? _______________________________________________________ LO 1.3, LO 1.5, LO 1.8

11. Wanda is a single 50-year-old taxpayer with no dependents. Her only 2021 income is $41,000 of wages. Calculate her taxable income and her tax liability assuming no tax credits. Please show your work. _____________________________________________________________________________________