Question

The Skywalkers have calculated their taxable income to be $88,000 for 2020, which includes $3,000 of net long-term capital gains. They also made $18,000 of estimated payments for 2020. What is the Skywalkers' tax due or refund assuming they are married and file a joint return.

Tax Due or Refund (label which it is)

In February of 2019, Mara and Luke were married. During 2020, Mara received $40,000 of compensation from her employer and had $6,000 withheld while Luke received $30,000 of compensation from his employer and had $4,800 withheld. The couple together reported $2,000 of itemized deductions. Mara and Luke filed separately in 2020. What is Mara's tax due or refund for 2020?

Tax Due or Refund (label which it is)

The Mandalorians filed jointly in 2020. Their AGI is $120,000. They reported a $1,000 qualified business income deduction and $26,000 of itemized deductions. They had $18,950 withheld for federal withholding by their employers. They also have two dependent qualifying children under age 17. What is their tax due or refund on their 2020 tax return?

Tax Due or Refund (label which it is)

Answer 1

Hi

All are individual questions. As per policy only 1 and first is answered. Kindly Co-operate: Solution: 1) As per Tax year 2020 limit: Answer is highlighted in yellow: Description Taxable income Income tax liablity [(9235)+(85000-80250)*22%] + (3000*15%) Childs Tax Withholding Refund (Amount sign can be negative) Amount $ 88,000 $ 10,730 $ $ 18,000 $ -7,270 Less: Less: