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The Park family consists of the following: Jackie O. Park; age 40; SSN: XXX-XX-XXXX; business analyst; single; unmarried Leslie T. Park; age 16; SSN: 000-00-0000;

The Park family consists of the following:

  • Jackie O. Park; age 40; SSN: XXX-XX-XXXX; business analyst; single; unmarried
  • Leslie T. Park; age 16; SSN: 000-00-0000; daughter; high-school student; lives at home
  • Alex K. Park; age 12; SSN: NNN-NN-NNNN; son; middle-school student; lives at home

Pertinent information:

  • Address: 132 Oakbrook Drive, Houston, Texas 77091
  • The Parks do not want to contribute to the presidential election campaign
  • Jackie does not receive child support. She pays all of the household expenses including the upkeep of Leslie and Alex. Only Jackie can claim Leslie and Alex as dependents.
  • Using the correct Tax Rate Schedule (Not to be confused with the IRS Tax Tables) calculate the tax payers Tax Liability
  • Jackie also operates a realty company on a part-time basis. Her income from this business is from real estate sales during the year. She is a sole proprietor and her companys name is Jaleal Realty Company. Jackie rents a small office to operate this business.

Jackie had the following earnings on her W-2:

  • Wages: $55,159
  • Federal tax withheld: $7,460
  • Social Security tax withheld: $3,420
  • Medicare tax withheld: $800

Other tax data:

  • Texas States general sales tax deduction allowed is $924.
  • Jackie received $610 of personal interest income from her bank.
  • She donated $230 in cash to her church during the year.
  • Real estate taxes paid on her personal residence were $1,980, and the mortgage interest paid to her bank in New York, NY on the primary residence for the year was $16,000.
  • Medical expenses for the family were as follows:
    • medical insurance premium $3,244
    • payments for doctors visits $1,760
    • $850 was paid for dentists
    • $230 for prescription drugs
  • Using the proper tax rate schedule for her filing status, calculate Jackies tax liability.

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