Angelena files as a head of household. In 2019, she reported $53,450 of taxable income, including a $10,000 qualified dividend. What is her gross tax liability, rounded to the nearest whole dollar amount? I split up the the income: 43,450 ordinary income 10,000 qualified dividend income and got these as the tax liability: 1500 for the $10,000 qualified dividend 1395 + 3552 for the ordinary income total : 6437 but the answer is 5042 I'm a bit stuck on what I've done wrong.
Angelena files as a head of household. In 2019, she reported $53,450 of taxable income, including a $10,000 qualified dividend. What is her gross tax liability, rounded to the nearest whole dollar amount? I split up the the income: 43,450 ordinary income 10,000 qualified dividend income and got these as the tax liability: 1500 for the $10,000 qualified dividend 1395 + 3552 for the ordinary income total : 6437 but the answer is 5042 I'm a bit stuck on what I've done wrong.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Angelena files as a head of household. In 2019, she reported $53,450 of taxable income, including a $10,000 qualified dividend. What is her gross tax liability, rounded to the nearest whole dollar amount?
I split up the the income:
43,450 ordinary income
10,000 qualified dividend income
and got these as the tax liability:
1500 for the $10,000 qualified dividend
1395 + 3552 for the ordinary income
total : 6437
but the answer is 5042
I'm a bit stuck on what I've done wrong.
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