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Required: Determine the amount of tax liability in the following situations. In all cases, the taxpayer is using the filing status of married filing jointly.
Required: Determine the amount of tax liability in the following situations. In all cases, the taxpayer is using the filing status of married filing jointly. Use the appropriate Tax Tables or Tax Rate Schedules. a. Taxable income of $62,449 that includes a qualified dividend of $560. b. Taxable income of $12,932 that includes a qualified dividend of $322. c. Taxable income of $144,290 that includes a qualified dividend of $4,384. (Round your intermediate computations to 2 decimal places and final answer to the nearest whole dollar amount.) d. Taxable income of $43,297 that includes a qualified dividend of $971. e. Taxable income of $262,403 that includes a qualified dividend of $12,396. (Round your intermediate computations to 2 decimal places and final answer to the nearest whole dollar amount.) (For all requirements, use the Tax Tables for taxpayers with taxable income under $100,000 and the Tax Rate Schedules for those with taxable income above $100,000.) Required: Determine the amount of tax liability in the following situations. In all cases, the taxpayer is using the filing status of married filing jointly. Use the appropriate Tax Tables or Tax Rate Schedules. a. Taxable income of $62,449 that includes a qualified dividend of $560. b. Taxable income of $12,932 that includes a qualified dividend of $322. c. Taxable income of $144,290 that includes a qualified dividend of $4,384. (Round your intermediate computations to 2 decimal places and final answer to the nearest whole dollar amount.) d. Taxable income of $43,297 that includes a qualified dividend of $971. e. Taxable income of $262,403 that includes a qualified dividend of $12,396. (Round your intermediate computations to 2 decimal places and final answer to the nearest whole dollar amount.) (For all requirements, use the Tax Tables for taxpayers with taxable income under $100,000 and the Tax Rate Schedules for those with taxable income above $100,000.)
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