Problem 1-12 The Tax Formula for Individuals, Filing Status and Tax Computation, Personal and Dependency Exemptions, The Standard Deduction (LO 1.3, 1.5, 1.6, 1.7)

Christine is a single 50-year-old taxpayer with no dependents. Her only income is $40,750 of wages. Calculate her taxable income and her tax liability.

Table for the standard deduction

Filing Status	2017 Standard Deduction
Single	$ 6,350
Married, filing jointly	12,700
Married, filing separately	6,350
Head of household	9,350
Qualifying widow(er)	12,700

Click here to access the tax tables. Taxable income: $ Tax liability: $