Homework Answers
Answer is option D
D. $934
Jasmine’s taxable income = total unearned income – standard deduction = (6550+600) -1100 = 6050
The trusts and estates applies to unearned income above $2,200
Unearned income above $2200 is $4950 (7150-2200)
Tax on unearned income = (2600*10%)+(24%*(4950-2600)) = 824
Taxable income taxed at Sheryl’s tax rate = 1100*10% =110
Jasmine’s gross tax liability = 824+110 = $934
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$1243
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Carolyn has an AGI of 39900 (all from earned income) two
qualifying children and is filing as a head of household. what
amount of earned income credit is she entitled to? (use 2018 earned
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2.)
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1248
1428
2294
3.)
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2240
2880
1830
4.)
21820
20770
9820
9660
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