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Only the highlighted parts, the rest is correct. For Medical Expenses I got $1,657 --> but it is not correct. Tax on taxable income -->

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image text in transcribed

Only the highlighted parts, the rest is correct.

For Medical Expenses I got $1,657 --> but it is not correct.

Tax on taxable income --> $9,477 (not correct)

Credits --> $575 (not correct)

Required information [The following information applies to the questions displayed below.] Reba Dixon is a fifth-grade school teacher who earned a salary of $38,100 in 2019. She is 45 years old and has been divorced for four years. She receives $1,310 of alimony payments each month from her former husband (divorced in 2016). Reba also rents out a small apartment building. This year Reba received $50,300 of rental payments from tenants and she incurred $19,617 of expenses associated with the rental. Reba and her daughter Heather (20 years old at the end of the year) moved to Georgia in January of this year. Reba provides more than one-half of Heather's support. They had been living in Colorado for the past 15 years, but ever since her divorce, Reba has been wanting to move back to Georgia to be closer to her family. Luckily, last December, a teaching position opened up and Reba and Heather decided to make the move. Reba paid a moving company $2,230 to move their personal belongings, and she and Heather spent two days driving the 1,470 miles to Georgia. Reba rented a home in Georgia. Heather decided to continue living at home with her mom, but she started attending school full-time in January and throughout the rest of the year at a nearby university. She was awarded a $3,220 partial tuition scholarship this year, and Reba helped out by paying the remaining $500 tuition cost. If possible, Reba thought it would be best to claim the education credit for these expenses. Reba wasn't sure if she would have enough items to help her benefit from itemizing on her tax return. However, she kept track of several expenses this year that she thought might qualify if she was able to itemize. Reba paid $6,020 in state income taxes and $12,720 in charitable contributions during the year. She also paid the following medical-related expenses for herself and Heather: Insurance premiums Medical care expenses Prescription medicine Nonprescription medicine New contact lenses for Heather $8,172 $1,320 $ 570 $ 320 $ 420 Shortly after the move, Reba got distracted while driving and she ran into a street sign. The accident caused $1,120 in damage to the car and gave her whiplash. Because the repairs were less than her insurance deductible, she paid the entire cost of the repairs. Reba wasn't able to work for two months after the accident. Fortunately, she received $2,220 from her disability insurance. Her employer, the Central Georgia School District, paid 60% of the premiums on the policy as a nontaxable fringe benefit and Reba paid the remaining 40% portion. A few years ago, Reba acquired several investments with her portion of the divorce settlement. This year she reported the following income from her investments: $2,420 of interest income from corporate bonds and $1,720 interest income from City of Denver municipal bonds. Overall, Reba's stock portfolio appreciated by $12,220 but she did not sell any of her stocks. Heather reported $6,640 of interest income from corporate bonds she received as gifts from her father over the last several years. This was Heather's only source of income for the year. Reba had $10,000 of federal income taxes withheld by her employer. Heather made $1,000 of estimated tax payments during the year. Reba did not make any estimated payments. Reba had qualifying insurance for purposes of the Affordable Care Act (ACA). a. Determine Reba's federal income taxes due or taxes payable for the current year. Use Tax Rate Schedule for reference. (Round your intermediate computations and final answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.) Amount $ $ $ 38,100 15,720 50,300 1,332 2,420 $ $ (1) Go 107,872 | $ 19,617 19,617 Description Gross Income: Salary Alimony received Rental receipts Disability insurance payments Interest income from corporate bonds Interest income from municipal bonds Gross income Deductions for AGI: Expenses for rental property (2) Total for AGI deductions (3) AGI From AGI deductions: Medical expenses State income taxes Charitable contributions (4) Total itemized deductions (5) Standard deduction (6) Greater of itemized deductions or standard deduction (7) Taxable income (8) Tax on taxable income (9) Credits (10) Tax prepayments Tax refund $ 88,255 $ $ 6,020 12,720 $ 18,350 $ 10,000 2019 Tax Rate Schedules Individuals Schedule X Single Schedule 2 Head of Household The tax is: If taxable income But not over: is over: But not over: The tax is: If taxable income is over: S 0 S 9,700 10% of taxable income S 0 S 13.850 10% of taxable income S 9,700 S 39,475 $ 13,850 $ 52,850 $970 plus 12% of the excess over $9,700 $1,385 plus 12% of the excess over S13.850 S 39,475 U S $4,200 52,850 S 84,200 $4,543 plus 22% of the excess over $39.475 $6,065 plus 22% of the excess over S52,850 S S4,200 $160,725 S S4,200 $160,700 S14,352 50 plus 24% of the excess over $84.200 $12,962 plus 24% of the excess over $84.200 S160,725 $204,100 $160,700 S204,100 $32,748,50 plus 32% of the excess over S160.725 $31,322 plus 32% of the excess over S160.700 S204,100 S510,300 $204,100 S510.300 S46,628 50 plus 35% of the excess over S204,100 S45.210 plus 35% of the excess over S204,100 S510,300 $510,300 S153.798.50 plus 37% of the excess over S510,300 S152,380 plus 37% of the excess over 5510,300 Schedule Y-2 Married Filing Separately Schedule Y-1. Married Filing Jointly or Qualifying Widow(er) The tax is: The tax is: If taxable income But not over: is over: If taxable income is But not over: over: $ 0 $ 19.400 10% of taxable income $ 0 $ 9,700 10% of taxable income $ 19,400 $ 78.950 $ 9,700 $ 39,475 $1.940 plus 12% of the excess over $19,400 $970 plus 12% of the excess over $9.700 S 78,950 $168,400 S 39,475 S 84.200 $9,086 plus 22% of the excess over S75.950 $4,543 plus 22% of the excess over S39,475 S168.400 S321,450 S 84,200 S160,725 $28,765 plus 24% of the excess over S16S.400 $14,382.50 plus 24% of the excess over SS4.200 S321,450 S408,250 S160,725 S204,100 $65,497 plus 32% of the excess over S321.450 $32,745.50 plus 32% of the excess over S160.725 S408,250 $612,350 S204,100 S306, 175 $93,257 plus 35% of the excess over S403.250 $46.628.50 plus 35% of the excess over S204,100 $612,350 S306,175 $164,709.50 plus 37% of the excess over S612.350 $82.354.75 plus 37% of the excess over S306,175 Required information [The following information applies to the questions displayed below.] Reba Dixon is a fifth-grade school teacher who earned a salary of $38,100 in 2019. She is 45 years old and has been divorced for four years. She receives $1,310 of alimony payments each month from her former husband (divorced in 2016). Reba also rents out a small apartment building. This year Reba received $50,300 of rental payments from tenants and she incurred $19,617 of expenses associated with the rental. Reba and her daughter Heather (20 years old at the end of the year) moved to Georgia in January of this year. Reba provides more than one-half of Heather's support. They had been living in Colorado for the past 15 years, but ever since her divorce, Reba has been wanting to move back to Georgia to be closer to her family. Luckily, last December, a teaching position opened up and Reba and Heather decided to make the move. Reba paid a moving company $2,230 to move their personal belongings, and she and Heather spent two days driving the 1,470 miles to Georgia. Reba rented a home in Georgia. Heather decided to continue living at home with her mom, but she started attending school full-time in January and throughout the rest of the year at a nearby university. She was awarded a $3,220 partial tuition scholarship this year, and Reba helped out by paying the remaining $500 tuition cost. If possible, Reba thought it would be best to claim the education credit for these expenses. Reba wasn't sure if she would have enough items to help her benefit from itemizing on her tax return. However, she kept track of several expenses this year that she thought might qualify if she was able to itemize. Reba paid $6,020 in state income taxes and $12,720 in charitable contributions during the year. She also paid the following medical-related expenses for herself and Heather: Insurance premiums Medical care expenses Prescription medicine Nonprescription medicine New contact lenses for Heather $8,172 $1,320 $ 570 $ 320 $ 420 Shortly after the move, Reba got distracted while driving and she ran into a street sign. The accident caused $1,120 in damage to the car and gave her whiplash. Because the repairs were less than her insurance deductible, she paid the entire cost of the repairs. Reba wasn't able to work for two months after the accident. Fortunately, she received $2,220 from her disability insurance. Her employer, the Central Georgia School District, paid 60% of the premiums on the policy as a nontaxable fringe benefit and Reba paid the remaining 40% portion. A few years ago, Reba acquired several investments with her portion of the divorce settlement. This year she reported the following income from her investments: $2,420 of interest income from corporate bonds and $1,720 interest income from City of Denver municipal bonds. Overall, Reba's stock portfolio appreciated by $12,220 but she did not sell any of her stocks. Heather reported $6,640 of interest income from corporate bonds she received as gifts from her father over the last several years. This was Heather's only source of income for the year. Reba had $10,000 of federal income taxes withheld by her employer. Heather made $1,000 of estimated tax payments during the year. Reba did not make any estimated payments. Reba had qualifying insurance for purposes of the Affordable Care Act (ACA). a. Determine Reba's federal income taxes due or taxes payable for the current year. Use Tax Rate Schedule for reference. (Round your intermediate computations and final answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.) Amount $ $ $ 38,100 15,720 50,300 1,332 2,420 $ $ (1) Go 107,872 | $ 19,617 19,617 Description Gross Income: Salary Alimony received Rental receipts Disability insurance payments Interest income from corporate bonds Interest income from municipal bonds Gross income Deductions for AGI: Expenses for rental property (2) Total for AGI deductions (3) AGI From AGI deductions: Medical expenses State income taxes Charitable contributions (4) Total itemized deductions (5) Standard deduction (6) Greater of itemized deductions or standard deduction (7) Taxable income (8) Tax on taxable income (9) Credits (10) Tax prepayments Tax refund $ 88,255 $ $ 6,020 12,720 $ 18,350 $ 10,000 2019 Tax Rate Schedules Individuals Schedule X Single Schedule 2 Head of Household The tax is: If taxable income But not over: is over: But not over: The tax is: If taxable income is over: S 0 S 9,700 10% of taxable income S 0 S 13.850 10% of taxable income S 9,700 S 39,475 $ 13,850 $ 52,850 $970 plus 12% of the excess over $9,700 $1,385 plus 12% of the excess over S13.850 S 39,475 U S $4,200 52,850 S 84,200 $4,543 plus 22% of the excess over $39.475 $6,065 plus 22% of the excess over S52,850 S S4,200 $160,725 S S4,200 $160,700 S14,352 50 plus 24% of the excess over $84.200 $12,962 plus 24% of the excess over $84.200 S160,725 $204,100 $160,700 S204,100 $32,748,50 plus 32% of the excess over S160.725 $31,322 plus 32% of the excess over S160.700 S204,100 S510,300 $204,100 S510.300 S46,628 50 plus 35% of the excess over S204,100 S45.210 plus 35% of the excess over S204,100 S510,300 $510,300 S153.798.50 plus 37% of the excess over S510,300 S152,380 plus 37% of the excess over 5510,300 Schedule Y-2 Married Filing Separately Schedule Y-1. Married Filing Jointly or Qualifying Widow(er) The tax is: The tax is: If taxable income But not over: is over: If taxable income is But not over: over: $ 0 $ 19.400 10% of taxable income $ 0 $ 9,700 10% of taxable income $ 19,400 $ 78.950 $ 9,700 $ 39,475 $1.940 plus 12% of the excess over $19,400 $970 plus 12% of the excess over $9.700 S 78,950 $168,400 S 39,475 S 84.200 $9,086 plus 22% of the excess over S75.950 $4,543 plus 22% of the excess over S39,475 S168.400 S321,450 S 84,200 S160,725 $28,765 plus 24% of the excess over S16S.400 $14,382.50 plus 24% of the excess over SS4.200 S321,450 S408,250 S160,725 S204,100 $65,497 plus 32% of the excess over S321.450 $32,745.50 plus 32% of the excess over S160.725 S408,250 $612,350 S204,100 S306, 175 $93,257 plus 35% of the excess over S403.250 $46.628.50 plus 35% of the excess over S204,100 $612,350 S306,175 $164,709.50 plus 37% of the excess over S612.350 $82.354.75 plus 37% of the excess over S306,175

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