Question

PLEASE ANSWER. WILL GIVE THUMBS UP.

Calculate the total 2017 tax liability for a surviving spouse with one dependent child with a gross income of $50,510, no salary reductions for employer-provided benefits, and no itemized deductions. Assuming the single parent taxpayer's filing status is Married Filing Jointly or Surviving Spouse, the taxpayer's standard deduction for the 2017 tax year is $ (Round to the nearest dollar.) Click the following link for a standard deduction table. Since the taxpayer has one dependent child, the taxpayer's exemptions for the 2017 tax year is $ (Round to the nearest dollar.) The taxpayer's taxable income for the 2017 tax year is $ (Round to the nearest dollar.) The taxpayer's child tax credit amount for the 2017 tax year is $ (Round to the nearest dollar.) The taxpayer's total income tax due for the 2017 tax year is $ (Round to the nearest cent.) Click the following link for the tax rates and brackets table. E

Answer 1

1. Taxable income

AGI = $50,510

Less standard deduction $12,700

Less personal exemption ($4050*2) $8100

Taxable income = $29,710

2. Child tax credit amount =$1000

3. Gross tax on taxable income of $29,710 = $1865+15%(29710 - $18650) =$3524

Gross tax due = $3524

Less child tax credit $1000

Net tax due $2524