Homework Answers
A. Martha's filing status is Head of Household since her son lives with her and is dependent on her and she pays all the costs of the household.
B. Taxable income of Martha is Salary income + Interest Income = 59500 + 4000 = $ 63500
C.
| Particulars | Amount in $ |
| Salary Income | 59500 |
| Interest Income | 4000 |
| Gross Income | 63500 |
| Less: Standard Deduction | -18350 |
| Taxable Income | 45150 |
| Tax Calculation | |
| Upto 13600 @ 10% | 1360 |
| From 13601 to 45150 @ 12% | 3786 |
| Regular Tax | 5146 |
| Less: Child Tax Credit | -2000 |
| Tax after Credit | 3146 |
Tax Brackets for Head of Household in 2019
| Amount in $ | Rate of tax |
| 0-13600 | 10% |
| 13601-51800 | 12% |
| 51801-82500 | 22% |
| 82501-157500 | 24% |
| 157501-200000 | 32% |
| 200001-500000 | 35% |
| 500001 or more | 37% |
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