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Please use current tax rates, exemptions, and laws. Be sure to show ALL of your work so that I can give you partial credit. Use
Please use current tax rates, exemptions, and laws. Be sure to show ALL of your work so that I can give you partial credit. Use tax law.
Use these instructions: Instruction irsgov
Sam is single, and has no children. He made a salary of $ with $ in Federal withholding. He has the following items:
Medical
Mortgage interest
Credit card interest
Property tax
Sales tax
State income tax withheld
Charitable contributions
Tax return preparation fee
Please show your work.
Compute the adjusted gross income.
Compute the itemized deductions before any limitations
Compute the itemized deductions after any limitations
Compute the taxable income.
Compute the tax liability.
Is he subject to alternative minimum tax? Why or why not?
Compute his tax refund or tax due.
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