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Rashad, an unmarried individual with four dependent children (ages 5 to 15) had the following income items: Salary $ 517,100 Interest income 22,700 Dividend eligible

Rashad, an unmarried individual with four dependent children (ages 5 to 15) had the following income items:

Salary $ 517,100
Interest income 22,700
Dividend eligible for 20% rate 41,000

Rashad had $35,000 in itemized deductions.

Required:

Compute Rashads 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
Taxable Income
Income Tax

Individual Tax Rate Schedules

Married Filing Jointly and Surviving Spouse

If taxable income is The tax is
Not over $20,550 10% of taxable income
Over $20,550 but not over $83,550 $2,055.00 + 12% of excess over $20,550
Over $83,550 but not over $178,150 $9,615.00 + 22% of excess over $83,550
Over $178,150 but not over $340,100 $30,427.00 + 24% of excess over $178,150
Over $340,100 but not over $431,900 $69,295.00 + 32% of excess over $340,100
Over $431,900 but not over $647,850 $98,671.00 + 35% of excess over $431,900
Over $647,850 $174,253.50 + 37% of excess over $647,850

Married Filing Separately

If taxable income is The tax is
Not over $10,275 10% of taxable income
Over $10,275 but not over $41,775 $1,027.50 + 12% of excess over $10,275
Over $41,775 but not over $89,075 $4,807.50 + 22% of excess over $41,775
Over $89,075 but not over $170,050 $15,213.50 + 24% of excess over $89,075
Over $170,050 but not over $215,950 $34,647.50 + 32% of excess over $170,050
Over $215,950 but not over $323,925 $49,335.50 + 35% of excess over $215,950
Over $323,925 $87,126.75 + 37% of excess over $323,925

Head of Household

If taxable income is The tax is
Not over $14,650 10% of taxable income
Over $14,650 but not over $55,900 $1,465.00 + 12% of excess over $14,650
Over $55,900 but not over $89,050 $6,415.00 + 22% of excess over $55,900
Over $89,050 but not over $170,050 $13,708.00 + 24% of excess over $89,050
Over $170,050 but not over $215,950 $33,148.00 + 32% of excess over $170,050
Over $215,950 but not over $539,900 $47,836.00 + 35% of excess over $215,950
Over $539,900 $161,218.50 + 37% of excess over $539,900

Single

If taxable income is The tax is
Not over $10,275 10% of taxable income
Over $10,275 but not over $41,775 $1,027.50 + 12% of excess over $10,275
Over $41,775 but not over $89,075 $4,807.50 + 22% of excess over $41,775
Over $89,075 but not over $170,050 $15,213.50 + 24% of excess over $89,075
Over $170,050 but not over $215,950 $34,647.50 + 32% of excess over $170,050
Over $215,950 but not over $539,900 $49,335.50 + 35% of excess over $215,950
Over $539,900 $162,718 + 37% of excess over $539,900

Married filing jointly and surviving spouses $25,900
Married filing separately 12,950
Head of household 19,400
Single 12,950

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