Mr. Jones is a single person who makes $45,000 in 2019. This year she paid $2,000...

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Mr. Jones is a single person who makes $45,000 in 2019. This year she paid $2,000...

Mr. Jones is a single person who makes $45,000 in 2019. This year she paid $2,000 in student loan interest and $3,600 to her 401(k) plan at work. Calculate the following
1. Adjusted Gross Income.
2. Assuming only standardized deductions available, what is his taxable income for 2019?
3. Using 2019 tax brackets, what is his marginal federal tax rate?

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Answer 1

Answer #1

Answer:- Given that Mr. sones is a single person makes in 2019 = 45000 student loan inte testa 2000 20106) plan at work= 3600 Now, using Mis do 19 tare brackets, masginal federal Hare state will be Here his taxable income is bo 9701-39475 So, Hls marg

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Answer 2

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