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Lacy is a single taxpayer. In 2022, her taxable income is $45,200. What is her tax liability in each of the following alternative situations?
Lacy is a single taxpayer. In 2022, her taxable income is $45,200. What is her tax liability in each of the following alternative situations? Use Tax Rate Schedule. Dividends and Capital Gains Tax Rates for reference. Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Required: a. All of her income is salary from her employer. b. Her $45,200 of taxable income includes $2,200 of qualified dividends. c. Her $45,200 of taxable income includes $6,200 of qualified dividends. 2022 Tax Rate Schedules Individuals Schedule X-Single If taxable income is over: But not over: $ 0 $ 10,275 $ 10,275 . $ 41,775 $ 41,775 $ 170,050 $215,950 $ 89,075 $170,050 $215,950 $539,900 $539,900 $ 89,075 The tax is: 10% of taxable income $1,027.50 plus 12% of the excess over $10,275 $4.807.50 plus 22% of the excess over $41,775 $15,213.50 plus 24% of the excess over $89,075 $34,647.50 plus 32% of the excess over $170,050 $49,335.50 plus 35% of the excess over $215.950 $162,718 plus 37% of the excess over $539,900 Schedule Y-1-Married Filing Jointly or Qualifying Widow(er) If taxable income is over: But not over: $ 0 $ 20,550 $ 20,550 $ 83,550 $ 83,550 $ 178,150 $ 178,150 $340,100 $431.900 $647,850 $340,100 $431,900 $ 647,850 The tax is: 10% of taxable income $2,055 plus 12% of the excess over $20,550 $9.615 plus 22% of the excess over $83,550 $30.427 plus 24% of the excess over $178,150 $69,295 plus 32% of the excess over $340,100 $98,671 plus 35% of the excess over $431,900 $174,253.50 plus 37% of the excess over $647,850 Schedule Z-Head of Household If taxable income is over: But not over: $ 0 $ 14,650 $ 55,900 $ 89,050 $170,050 $215,950 $539,900 $ 14,650 $ 55,900 $ 89,050 $170,050 $ 215,950 $539,900 Schedule Y-2-Married Filing Separately If taxable income is over: But not over: $ 0 $10.275 $41.775 $ 89075 $170,050 $215,950 $ 10,275 $ 41,775 $ 89,075 The tax is: 10% of taxable income $1,465 plus 12% of the excess over $14,650 $6,415 plus 22% of the excess over $55,900 $13,708 plus 24% of the excess over $89,050 $33,148 plus 32% of the excess over $170,050 $47,836 plus 35% of the excess over $215,950 $161,218.50 plus 37% of the excess over $539,900 The tax is: 10% of taxable income $1,027 50 plus 12% of the excess over $10,275 $4,807.50 plus 22% of the excess over $41,775 $170,050 $15.213.50 plus 24% of the excess over $89,075 $215.950 $34,647 50 plus 32% of the excess over $170,050 $323,925 $49.335.50 plus 35% of the excess over $215,950 $323,925 $87.126.75 plus 37% of the excess over $323,925 Tax Rates for Net Capital Gains and Qualified Dividends Taxable Income Rate 0% 15% Married Filing Jointly Married Filing Separately $0-$83,350 $83,351-$517,200 $0-$41,675 $41,676 $258,600 $517,201+ Single $0-$41,675 $41,676 $459,750 $459,751+ Head of Household 20% $258,601+ $0-$55,800 $55,801-$488,500 $488,501+ Trusts and Estates $0-$2,800 $2,801-$13,700 $13,701+ This rate applies to the net capital gains and qualified dividends that fall within the range of taxable income specified in the table (net capital gains and qualified dividends ar
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