Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please answer the below questions using the given information. thank you 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26.

please answer the below questions using the given information. thank you

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. Enter the amount from line 11 . Subtract line 13 from line 12 Enter: $425,800 if single, $239,500 if married filing separately, $479,000 if married filing jointly or qualifying widower), $452,400 if head of household. Enter the smaller of line 1 or line 15 . Add lines 7 and 11 . . Subtract line 17 from line 16. If zero or less, enter -O- . Enter the smaller of line 14 or line 18 Multiply line 19 by (0.15) . Add lines 11 and lg Subtract line 21 from line 12 Multiply line 22 by (0.20) . Figure the tax on the amount on line 7. Ifthe amount on line 7 is less than $100,000, use the Tax Table to figure the tax. If the amount on line 7 is $100,000 or more, use the Tax Computation Worksheet . Add lines 20, 23, and 24 . Figure the tax on the amount on line 1. Ifthe amount on line 1 is less than $100,000, use the Tax Table to figure the tax. If the amount on line 1 is $100,000 or more, use the Tax Computation Worksheet . Tax on all taxable income. Enter the smaller of line 25 or line 26. Also include this amount on the entry space on Form 1040, line lla. If you are filing Form 2555 or 2555-EZ, do not enter this amount on Form 1040, line lla. Instead, enter it on line 4 of the Foreign Earned Income Tax Worksheet . . . . . * If you ere filing Form 2555 or 2555-EZ, see the footnote jn the Foreign Earned Income Tax Worksheet before completing this line.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Comprehensive Assurance & Systems Tool

Authors: Laura IngrahamJ Jenkins

2nd Edition

0131377213, 9780131377219

More Books

Students also viewed these Accounting questions