Question

The tax is: If taxable income is over: But not over: 000 $ 0 $ 13,850 10% of taxable income $ 13,850 $ 52,850 $1,385 plus 12% of the excess over $13,850 $ 52,850 $ 84,200 $6,065 plus 22% of the excess over $52,850 $ 84,200 $160,700 $12,962 plus 24% of the excess over $84,200 $160,700 $204,100 $31,322 plus 32% of the excess over $160,700 $204,100 $510,300 $45,210 plus 35% of the excess over $204,100 $510,300 - $152,380 plus 37% of the excess over $510,300 Schedule Y-2-Married Filing Separately

Answer 1

Amount $ 106,000 Answer la) Description Gross Income For AGI Deductions Adjusted Gross Income Standard Deduction itemized deduction 106,000 (5) 23,000 (8) Taxable income income Tax liability Child Tax Credit Tex Withholding Refundi/Due 83,000 12,698 3.000 11.000 (1,302] (10) Calculation of Tax Taxable income 83,000 Falls within the bracket of (52850 - 84200) which is taxable as 6065 plus 22% of excess over 52850 Excess (83000- 52850) 30,150 Tax Rate 22% Tax (A) 6,633 Tax (B) 6,065 Total Tax 12,698