Question

When preparing a tax return, it is important to complete each step in the order prescribed. Click in each entry field then type the prescribed step. Step A: Determine Adjusted Gross Income Equals Less Step B: Calculate Taxable Income Larger of itemized deductions or standard deduction Less Equals Step C: Calculate Tax Liability Calculate tax using tax tables or tax rate schedules Less Plus Equals

Answer 1

	STEP A
1	Income from Wages,Salaries	XXX
2	Qualified Dividends	XXX
3	Pension and Annuities	XXX
4	Capital Gain	XXX
5	Other Income	XXX
6	Total Income(1+2+3+4+5)	XXXX
	Less
7	Adjustments to Income	XXX
8	Adjusted Gross Income(6-7)	XXXX
	STEP B
9	Standard Deduction or Itemised Deductions
9(a)	Single or Married filing separately,	XXX
9(b)	• Married filing jointly or Qualifyingwidow(er),	XXX
9( c)	• Head of household,	XXX
10	Lower of Standard Deduction or Itemised Deductions(9(a)+9(b)+9( c)	XXXX
11	Taxable Income(8-10)	XXXX
	STEP C
12	Tax Liability using slab rates	XXX
Less	Child tax credit	XXX
Plus	Self Employment Tax	XXX
	Tax liability	XXX