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Problem 3 - 4 0 ( LO . 1 , 2 , 3 , 4 , 5 , 6 ) Morgan ( age 4 5
Problem LO
Morgan age is single and provides more than of the support of Tammy a family friend Jen a niece, age and Jerold a
nephew, age Both Tammy and Jen live with Morgan, but Jerold a French citizen lives in Canada. Morgan earns a salary of $
contributes $ to a traditional IRA, and receives sales proceeds of $ for an RV that cost $ and was used for vacations.
She has $ in itemized deductions.
Click here to access the standard deduction table to use if required.
a Morgan's taxable income is $
X
b Using the Tax Rate Schedules click here tax liability for Morgan is $
for
c Compute Morgan's dependent tax credit.
$
FOR THE YEAR
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