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Use 2019 Tax laws Compute their tax liability. 11. Sam is single, 30. and has no children. He made a salary of $250,000 with $40,000
Use 2019 Tax laws
Compute their tax liability. 11. Sam is single, 30. and has no children. He made a salary of $250,000 with $40,000 in Federal withholding. He has the following items: Medical Mortgage interest Credit card interest Property tax Sales tax State income tax withheld Charitable contributions Tax retum preparation fee 8,000 5,000 2,000 2,500 1,500 22,000 1.000 500 Please show your work. Compute the adjusted gross income. Compute the itemized deductions before any limitations. Compute the itemized deductions after any limitations. Compute the taxable income Compute the tax liability Is he subject to alternative minimum tax? Why or why notStep by Step Solution
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