1. united state tax table

2. T, a single taxpayer, operate a sole proprietorship that is not a Specified Service Trade or Business. For the taxable year, T earns $110,000 in business income and incurs $40,000 in fully deductible business expenses (all W-2 wages paid to employees). In addition to the business income, T earns $10,000 in qualified dividends. Determine the amount of any Qualified Business Income Deduction to which T is entitled.

3. T is an employee at a large electronics retailer whose gross profit percentage is 36%. The employer offers a discount to its employees, and T uses this program to purchase products with a retail value of $2,250. T pays $1,050. Determine the amount T must include in gross income with respect to this transaction.

3----T is a single taxpayer. On 30 April of 2019, T sold his home for $799,000 and paid $47,000 in selling expenses. T acquired the home in January of 2014 for $492,000 and has used it as his primary residence since 15 January 2017. Determine the amount of gain that T must include in income as a result of this sale.

4---- The claim of right doctrine requires that a taxpayer not recognize income until it is certain that the taxpayer will not be required to repay the income.

EXHIBIT 6-4 Summary of Limitations on Deduction of Interest on Education Loans Panel A: AGI Limitations Deduction Modified AGI Level Not over 0 ($140,000 for married filing jointly) Above $70,000 ($140,000 for married filing jointly) but below $85,000 ($170,000 for married filing jointly) Amount paid up to $2.500 Amount paid up to $2,500 reduced by the phase-out amount. The phase-out amount is the amount paid up to $2.500 times the phase-out percentage (see Panel B for the phase-out percentage computation) Zero Equal to or above $85.000 (5170,000 for married filing jointly) Panel B: Phase-Out Percentage Filing Status Single or head of household Married filing jointly Phase Out Percentage (Modified AGI- $70,000)/S15,000 (Modified AGI- $140,000)/830,000 "Married taxpayers fing separately are ineligible for the deduction EXHIBIT 5-1 Table for Expected Return Multiple for Ordinary Single-Life Annuity Age at Annuity Starting Date Expected Return Multiple 68 17.6 69 16.8 70 16.0 71 72 15.3 14.6 Source: Reg. $1.72-9. Schedule Z Head of Household But not Ir taxable income is over: $ 0 $ 13,850 over $ 13,850 $ 52.850 $ 52,850 $ 84,200 $ 84,200 $160,700 The tax is: 10% of taxable income $1,385 plus 12% of the excess over $13.850 $6,065 plus 22% of the excess over $52.850 $12.962 plus 24% of the excess over $84.200 $31.322 plus 32% of the excess over $160,700 $45.210 plus 35% of the excess over $204,100 $152,380 plus 37% of the excess over $510,300 S160.775 $160.700 5321.450 Individuals Schedule X Single Ir taxable income is But not ener over The tax is: $ 0 $ 9,700 10% of taxable income $ 9,700 $ 39,475 $970 plus 12% of the excess over $9,700 $ 39,475 $ 84,200 $4,543 plus 22% of the excess over $39.475 $ 84,200 $160,725 $14,382.50 plus 24% of the excess over $84.200 $204,100 $32,748.50 plus 32% of the excess over $160,725 $204,100 $510,300 $46.628.50 plus 35% of the excess over $204.100 $510,300 $153.798.50 plus 37% of the excess over $510,300 Schedule Y-1-Married Filing Jointly or Qualifying Widower) If taxable income is But not over: over: The tax is: $ 0 $ 19.400 10% of taxable income $ 19,400 $ 78.950 $1.940 plus 12% of the excess over $19,400 $ 78,950 $168.400 $9,086 plus 22% of the excess over $78,950 $168,400 $321.450 $28,765 plus 24% of the excess over $168 400 $168.400 $321.450 $408.200 $65.497 plus 32% of the excess over $408.200 $612,350 $93.257 plus 35% of the excess over $408.200 $612.350 $164.709.50 plus 37% of the excess over $612.350 $204,100 $204,100 $510,300 $510,300 Schedule Y-2-Married Filing Separately But not Ir taxable income is over: $ 0 Over: $ 9,700 $ 39,475 The tax is: 10% of taxable income $970 plus 12% of the excess over $9.700 $ 9.700 $ 39,475 $ 84,200 S 84,200 $160.725 $160,723 $204,100 $4,543 plus 22% of the excess over $39,475 $14.382.50 plus 24% of the excess over $84.200 $32.748.50 plus 32% of the excess over $160.725 $46.628.50 plus 35% of the excess over $204,100 $82.354.75 plus 37% of the excess over $306,175 $204,100 $306,175 $306,175 Basic Standard Deduction Amounts Filing Status 2018 Amount 2019 Amount Married Filing Jointly $24,000 $24,400 Qualifying Widow or Widower $24,000 $24.400 Married Filing Separately $12.000 $12.200 Head of Household $18,000 $18,350 Single $12.000 $12.200 *For individuals claimed as a dependent on another return, the 2019 standard deduction is the greater of $1.100 or (2) SJ50 plus earned income not to see the standard deduction amount of those who are not dependents Exemption Amount 2018 2019 $4,150 $4,200* *Used for qualifying relative gross income test. EXHIBIT 6-4 Summary of Limitations on Deduction of Interest on Education Loans Panel A: AGI Limitations Deduction Modified AGI Level Not over 0 ($140,000 for married filing jointly) Above $70,000 ($140,000 for married filing jointly) but below $85,000 ($170,000 for married filing jointly) Amount paid up to $2.500 Amount paid up to $2,500 reduced by the phase-out amount. The phase-out amount is the amount paid up to $2.500 times the phase-out percentage (see Panel B for the phase-out percentage computation) Zero Equal to or above $85.000 (5170,000 for married filing jointly) Panel B: Phase-Out Percentage Filing Status Single or head of household Married filing jointly Phase Out Percentage (Modified AGI- $70,000)/S15,000 (Modified AGI- $140,000)/830,000 "Married taxpayers fing separately are ineligible for the deduction EXHIBIT 5-1 Table for Expected Return Multiple for Ordinary Single-Life Annuity Age at Annuity Starting Date Expected Return Multiple 68 17.6 69 16.8 70 16.0 71 72 15.3 14.6 Source: Reg. $1.72-9. Schedule Z Head of Household But not Ir taxable income is over: $ 0 $ 13,850 over $ 13,850 $ 52.850 $ 52,850 $ 84,200 $ 84,200 $160,700 The tax is: 10% of taxable income $1,385 plus 12% of the excess over $13.850 $6,065 plus 22% of the excess over $52.850 $12.962 plus 24% of the excess over $84.200 $31.322 plus 32% of the excess over $160,700 $45.210 plus 35% of the excess over $204,100 $152,380 plus 37% of the excess over $510,300 S160.775 $160.700 5321.450 Individuals Schedule X Single Ir taxable income is But not ener over The tax is: $ 0 $ 9,700 10% of taxable income $ 9,700 $ 39,475 $970 plus 12% of the excess over $9,700 $ 39,475 $ 84,200 $4,543 plus 22% of the excess over $39.475 $ 84,200 $160,725 $14,382.50 plus 24% of the excess over $84.200 $204,100 $32,748.50 plus 32% of the excess over $160,725 $204,100 $510,300 $46.628.50 plus 35% of the excess over $204.100 $510,300 $153.798.50 plus 37% of the excess over $510,300 Schedule Y-1-Married Filing Jointly or Qualifying Widower) If taxable income is But not over: over: The tax is: $ 0 $ 19.400 10% of taxable income $ 19,400 $ 78.950 $1.940 plus 12% of the excess over $19,400 $ 78,950 $168.400 $9,086 plus 22% of the excess over $78,950 $168,400 $321.450 $28,765 plus 24% of the excess over $168 400 $168.400 $321.450 $408.200 $65.497 plus 32% of the excess over $408.200 $612,350 $93.257 plus 35% of the excess over $408.200 $612.350 $164.709.50 plus 37% of the excess over $612.350 $204,100 $204,100 $510,300 $510,300 Schedule Y-2-Married Filing Separately But not Ir taxable income is over: $ 0 Over: $ 9,700 $ 39,475 The tax is: 10% of taxable income $970 plus 12% of the excess over $9.700 $ 9.700 $ 39,475 $ 84,200 S 84,200 $160.725 $160,723 $204,100 $4,543 plus 22% of the excess over $39,475 $14.382.50 plus 24% of the excess over $84.200 $32.748.50 plus 32% of the excess over $160.725 $46.628.50 plus 35% of the excess over $204,100 $82.354.75 plus 37% of the excess over $306,175 $204,100 $306,175 $306,175 Basic Standard Deduction Amounts Filing Status 2018 Amount 2019 Amount Married Filing Jointly $24,000 $24,400 Qualifying Widow or Widower $24,000 $24.400 Married Filing Separately $12.000 $12.200 Head of Household $18,000 $18,350 Single $12.000 $12.200 *For individuals claimed as a dependent on another return, the 2019 standard deduction is the greater of $1.100 or (2) SJ50 plus earned income not to see the standard deduction amount of those who are not dependents Exemption Amount 2018 2019 $4,150 $4,200* *Used for qualifying relative gross income test