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Lee is single and has two daughters, Ava and Alice. He makes $ 1 5 5 , 6 0 0 in gross income from his
Lee is single and has two daughters, Ava and Alice. He makes $ in gross income from his job at NASA. During the year he had $ in adjustments. He also had $ in qualified medical expenses and $ in other fully itemized deductions. Use the tax information from your lecture notes to an
What is the total for itemized deductions?
Will a refund be received or will a payment be owed to the government?
What is the Adjusted Gross Income
What is the households average tax?
What is the marginal tax bracket?
What is the total amount the household will use for deductions? Remember there is a standard deduction and an itemized deduction. I want the larger of the two the final number you will use for deductions.
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