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Rashad, an unmarried individual with four dependent children (ages 5 to 15) had the following income items: Salary Interest income Dividend eligible for 20%
Rashad, an unmarried individual with four dependent children (ages 5 to 15) had the following income items: Salary Interest income Dividend eligible for 20% rate Rashad had $35,000 in itemized deductions. Required: $ 517,100 22,700 41,000 Compute Rashad's income tax (before credits). Assume the taxable year is 2022. Use Individual Tax Rate Schedules and Standard Deduction Table Note: Round your intermediate calculations and final answers to the nearest whole dollar amount. Amount AGI $ 580,800 Taxable Income Income Tax $ 545,800 163,284
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