Question
Use the 2012 marginal tax rates to compute the tax owed by the following person. Round taxable income to the nearest dollar as needed. A
Use the
2012
marginal tax rates to compute the tax owed by the following person. Round taxable income to the nearest dollar as needed.
A single
man
with a taxable income of
$
Marginal Tax Rates, Standard Deductions, and Exemptions | ||||
Unmarried, divorced, or legally separated | Married and each partner files a separate tax return | Married and both partners file a single tax return | Unmarried and paying more than half the cost of supporting a child or parent | |
---|---|---|---|---|
Tax Rate | Single | Married Filing Separately | Married Filing Jointly | Head of Household |
10% | up to $8700 | up to $8700 | up to $17,400 | up to $12,400 |
15% | $8701 to $35,350 | $8701 to $35,350 | $17,401 to $70,700 | $12,401 to $47,350 |
25% | $35,351 to $85,650 | $35,351 to $71,350 | $70,701 to $142,700 | $47,351 to $122,300 |
28% | $85,651 to $178,650 | $71,351 to $108,725 | $142,701 to $217,450 | $122,301 to $198,050 |
33% | $178,651 to $388,350 | $108,726 to $194,175 | $217,451 to $388,350 | $198,051 to $388,350 |
35% | more than $388,350 | more than $194,175 | more than $388,350 | more than $388,350 |
Standard Deduction | $5950 | $5950 | $11,900 | $8700 |
Exemptions (per person) | $3800 | $3800 | $3800 |
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