Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

USING THE TAX SCHEDULES FOR 2019, COMPUTE THE TAX FOR THE FOLLOWING: 1. SINGLE, TAXABLE INCOME $50,000 2. MFJ, TAXABLE INCOME $50,000 3. MFJ, TAXABLE

image text in transcribed

image text in transcribed

USING THE TAX SCHEDULES FOR 2019, COMPUTE THE TAX FOR THE FOLLOWING: 1. SINGLE, TAXABLE INCOME $50,000 2. MFJ, TAXABLE INCOME $50,000 3. MFJ, TAXABLE INCOME $410,000 4. HOH, TAXABLE INCOME $50,000 5. MFS, TAXABLE INCOME $50,000 2019 Tax Rate Schedules Single-Schedule X Head of household-Schedule Z If taxable of the If taxable income is: But not amount income is: But not Over- over- The tax is: over Over- over The tax is: $ 0 $ 9,700 ......... 10% $ 0 $ 0 $ 13,850 ......... 10% 9,700 39,475 $ 970.00 + 12% 9,700 13,850 52,850 $ 1,385.00 + 12% 39,475 84,200 4,543.00 + 22% 39,475 52,850 84,200 6,065.00 + 22% 84,200 160,725 14,382.50 +24% 84,200 84,200 160,700 12,962.00 + 24% 160,725 204,100 32,748.50 + 32% 160,725 160,700 204,100 31,322.00 + 32% 204,100 510,300 46,628.50 + 35% 204,100 204,100 510,300 45,210.00 + 35% 510,300 153,798.50 + 37% 510,300 510,300 152,380.00 + 37% Married filing jointly or Qualifying widow(er) Married filing separatelySchedule Y-2 Schedule Y-1 If taxable of the If taxable income is: But not amount income is: But not Over over The tax is: over Over- over- The tax is: $ 0 $ 19,400 .........10% $ 0 $ 0 $ 9,700 .........10% 19,400 78,950 $ 1,940.00 + 12% 19,400 9,700 39,475 $ 970.00 + 12% 78,950 168,400 9,086.00 + 22% 78,950 39,475 84,200 4,543.00 + 22% 168,400 321,450 28,765.00 + 24% 168,400 84,200 160,725 14,382.50 +24% 321,450 408,200 65,497.00+ 32% 321,450 160,725 204,100 32,748.50 + 32% 408,200 612,350 93,257.00 + 35% 408,200 204,100 306,175 46,628.50 + 35% 612,350 164,709.50 + 37% 612,350 306,175 82,354.75 + 37% of the amount over- $ 0 13,850 52,850 84,200 160,700 204,100 510,300 of the amount over- $ 0 9,700 39,475 84,200 160,725 204,100 306,175

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions