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Use the 2 0 2 0 tax information below to answer these questions. Tax Rates Rate Single Married Filing Jointly 1 0 % $ 0

Use the 2020 tax information below to answer these questions.
Tax Rates
Rate Single Married Filing Jointly
10% $0- $9,875 $0- $19,750
12% $9,875- $40,125 $19,750- $80,250
22% $40,125- $85,525 $80,250- $171,050
24% $85,525- $163,300 $171,050- $326,600
32% $163,300- $207,350 $326,600- $414,700
35% $207,350- $518,400 $414,700- $622,050
37% $518,400 or more $622,050 or more
Standard Deductions
Single Married Filing Jointly
$12,400 $24,800
Mya is a single person with no children whose gross income is $65,000. She also has the following adjustments and deductions.
Adjustments:
$2200 for contributions to a health saving account
Deductions:
$4250 in property tax
$4250 in mortgage interest
$2000 in charitable contributions
Find Mya's adjusted gross income. Round your answer to the nearest cent.
$
Will Mya use the standard deduction or itemized deductions?
Standard
Itemized
Find Mya's taxable income. Round your answer to the nearest cent.
$
Compute Mya's tax owed. Round your answer to the nearest cent.
$
Suppose Mya's W-2 says that she paid $6,760.00 in taxes in 2020. Is Mya due a refund, or does she owe additional taxes?
Refund Due
Owes Taxes
Calculate Mya's taxes owed or refund.
$
(Round to the nearest cent)
Mya's taxable income fell into the 22% marginal tax bracket. What percent of her gross household income did she pay in taxes? Answer as a percent, rounded to one decimal place.
%
-Question 7,1.9-

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