Question

Melissa is a single taxpayer. Her salary is $40,000. Melissa realized a short-term capital loss of $6,000. Her itemized deductions total $3,000. (The tax year is 2019.) (Click the icon to view the standard deduction amounts.) (Click the icon to view the tax rate schedule.) Read the requirements. Requirements a. and b. Compute Melissa's adjusted gross income and her taxable income. Start by computing Melissa's adjusted gross income and then her taxable income. (Use parentheses or a minus sign to enter a loss.) Adjusted gross income Minus: Taxable income Requirement c. Compute her tax liability. (Use the 2019 tax rate schedule for all tax calculations. Do not round any intermediary calculations. Round your final tax liability to the nearest whole dollar.) Melissa's tax liability is $ Choose from any list or enter any number in the input fields and then continue to the next question. javascript:do Exercise (7); 1 O Type here to search & Bt e 6 L = $ w ! of ^ rax 5:53 PM 1/26/2020

Answer 1

E mellisa is a single tax payeŏ Reg ae b: salany 40,000 capital Loss allowed Adjusted Gt ooss Income minus: 13000)* ु 31,000 (12200) standard Deduction 24800 Taxable Income NOtes: I capital OSses ade limited to mellisa wnl have E 3000 Pes tax year $3000 capit 10sS FODwaad 2) Peason can claim eithes item1zed deducion or standord deductlon, whicheves is highes $3000 Here itemized DedUCHOn $ 12,200 so she will claim Standaad DeducHon- standoad deduction 2782 is Reac melissa's 1ax liability $ 94800 Tax 06le Income -) single t CAXPOyes Tax schedule: 12%.) $ 970 t 1270f amountoves f 9700 $9701- 39475 970+ ($ R4800- 9700X12%- F1812 970+ $ R782