Salary $125,000.00

Corporate Bonds $2,000.00

Muni Bonds $10,000.00

Ordinary Dividends $12,000.00

Qualified Dividends $3,000.00

ST Capital Gain $2,000.00

LT Capital Loss $8,000.00

Alimony Income $11,000.00

Medical Expenses $12,000.00

Moving Expenses $1,500.00

Unreimbursed Employee Business Expenses $1,000.00

Charitable Contributions $13,500.00

Tuition & Fees Deduction $4,000.00

Student Loan Interest Deduction $2,500.00

Self Employment Taxes (100%) $950.00

Real Estate Taxes $1,400.00

Mortgage Interest $4,500.00

Filing Status MFJ Dependents 3

Withholding $11,000.00

Non-Refundable Credits $3,000.00

Calculate: Blank 1 Gross Income

Blank 2 Adjusted Gross Income

Blank 3 Taxable Income

Blank 4 Income Tax Liability

Blank 5 Tax Due/(Refund)

Blank 6 Marginal Tax Rate

Blank 7 Average Tax Rate

Blank 8 Effective Tax Rate