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Lee is single and has two daughters, Ava and Alice. He makes $155,600 in gross income from his job at NASA. During 2020 he had
Lee is single and has two daughters, Ava and Alice. He makes $155,600 in gross income from his job at NASA. During 2020 he had $6,000 in adjustments. He also had $17,600 in qualified medical expenses and $9,000 in other fully itemized deductions. Income tax held throughout the year = $18,500 Standard Deduction: Head of Household $18,800; Single-$12,550; Married Filing Jointly $25,100 $2000 child tax credit Schedule Z-If your filing status is Head of household If your taxable income is: The tax is: Over- But not over- of the amount over- $0 $14,200 14,200 54,200 10% $1,420.00+12% $0 14,200 54,200 86,350 6,220.00 + 22% 54,200 86,350 164,900 13,293.00+ 24% 86,350 164,900 209,400 32,145.00+32% 164,900 209,400 523,600 46,385.00 + 35% 209,400 523,600 156,355.00+37% 523,600 Will a refund be received or will payment be owed to the government? owe government $1,461 O refund of $1,753 owe government $1,825 O refund of $1,895
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