Need help calculating income tax:
Mr. Rogers, an unmarried individual, had the following income items. Salary Interest income Dividend eligible for 20% rate $521,600 25,400 50,000 Mr. Rogers had $35,900 itemized deductions and four dependent children (ages 5 through 15). Compute his income tax (before credits). Assume the taxable year is 2019. Use Individual Tax Rate Schedules and Standard Deduction Table. (Round your intermediate calculations and final answers to the nearest whole dollar amount.) Answer is complete but not entirely correct. AGI Taxable Income Income tax $ 597,000 $ 561,100 $ 162,676 X Individual Tax Rate Schedules Married Filing Jointly and Surviving Spouse If taxable income is: The tax is: Not over $19,400 10% of taxable income Over $19,400 but not over $78,950 $1,940 + 12% of excess over $19,400 Over $78,950 but not over $168,400 $9,086 + 22% of excess over $78,950 Over $168.400 but not over $321,450 $28,765 + 24% of excess over $168.400 Over S321,450 but not over $408.200 $65.497 + 32% of excess over $321,450 Over $408.200 but not over $612,350 $93.257 + 35% of excess over $408.200 Over $612.350 $164,709.50 + 37% of excess over $612,350 Married Filing Separately If taxable income is: The tax is: Not over $9,700 10% of taxable income Over $9,700 but not over $39.475 $970 + 12% of excess over $9.700 Over $39,475 but not over $84.200 $4,543 + 22% of excess over $39,475 Over $S4,200 but not over $160,725 $14,382.50 +24% of excess over $S4.200 Over $160,725 but not over S204,100 $32,748.50 + 32% of excess over $160,725 Over S204,100 but not over $306,175 $46.628.50 + 35% of excess over $204,100 Over $306,175 $82.354.75 +37% of excess over $306,175 Heads of Household If taxable income is: The tax is: Not over $13,850 10% of taxable income Over $13,850 but not over $52.850 $1,385 + 12% of excess over $13,850 Over S52,850 but not over $84.200 $6,065 + 22% of excess over S52,850 Over SS4,200 but not over $160,700 $12.962 +24% of excess over SS4,200 Over $160,700 but not over S204,100 $31,322 + 32% of excess over $160,700 Over S204,100 but not over S510,300 $45.210+ 35% of excess over S204,100 Over S510,300 $152,350 + 37% of excess over S510,300 Single If taxable income is: The tax is: Not over $9,700 10% of taxable income Over $9,700 but not over $39,475 $970 +12% of excess over $9,700 Over $39,475 but not over $84.200 $4,543 + 22% of excess over $39,475 Over $84,200 but not over $160,725 $14,382.5 + 24% of excess over $84.200 Over $160.725 but not over S204,100 $32.748.5 + 32% of excess over $160,725 Over S204,100 but not over $510,300 $46.628.5 + 35% of excess over $204,100 Over S510,300 $153,798.5 + 37% of excess over 510.300
