Compute the gross income, adjusted gross income, and taxable income in the following situation. Use the exemptions and deductions in the table to the right. Explain how it was decided whether to itemize deductions or use the standard deduction. Tax Rate 10% 15% 25% 28% 33% 35% 39.6% Standard deduction Exemption kper person) Married Filing Separately up to $9325 up to $37.950 up lo $76.550 up to $116.675 up to $208.350 up lo $235.350 above $235.350 $6350 Sara is maried, but she and her husband fled separately. Her salary was $39,300, and she eamed $200 in interest. She had $3290 in itemized deductions and claimed five exemptions, for herself and four children. $4050 Her gross income is S (Simpity your answer.) Her adjusted gross income is (Simpity your answer) Should she use the standard deduction or itemized deductions when finding her taxable income? OA She should use the standard deduction as it would deduct less money from her taxable income. OB. She should use itemized deductions as it would deduct less money from her taxabie income. OC She should use itemized deductions as it would deduct more money from her taxable income. OD. She should use the standard deduction as it would deduct more money from her taxable income. Her taxable income is S (Simplity your answer.)
Compute the gross income, adjusted gross income, and taxable income in the following situation. Use the exemptions and deductions in the table to the right. Explain how it was decided whether to itemize deductions or use the standard deduction. Tax Rate 10% 15% 25% 28% 33% 35% 39.6% Standard deduction Exemption kper person) Married Filing Separately up to $9325 up to $37.950 up lo $76.550 up to $116.675 up to $208.350 up lo $235.350 above $235.350 $6350 Sara is maried, but she and her husband fled separately. Her salary was $39,300, and she eamed $200 in interest. She had $3290 in itemized deductions and claimed five exemptions, for herself and four children. $4050 Her gross income is S (Simpity your answer.) Her adjusted gross income is (Simpity your answer) Should she use the standard deduction or itemized deductions when finding her taxable income? OA She should use the standard deduction as it would deduct less money from her taxable income. OB. She should use itemized deductions as it would deduct less money from her taxabie income. OC She should use itemized deductions as it would deduct more money from her taxable income. OD. She should use the standard deduction as it would deduct more money from her taxable income. Her taxable income is S (Simplity your answer.)
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Question
Transcribed Image Text:Compute the gross income, adjusted gross income, and taxable income in the following situation. Use the
exemptions and deducfions in the table to the right. Explain how it was decided whather to itemize deductions or
use the standard deduction.
Married Filing
Separately
up to $9325
up to $37.950
up to $76.550
up to $116,675
up to $208.350
up to $235.350
above $235.3350
$6350
Tax Rate
10%
15%
25%
28%
33%
35%
39.6%
Standard deduction
Exemption
(per person)
Sara is married, but she and her husband fled separately. Her salary was $39,300, and she eamed $260 in
interest. She had S$3290 in itemized deductions and claimed five exemptions, for herself and four children.
S4050
Her gross income is S
(Simplity your answer.)
Her adjusted gross income is S
(Simplify your answer.)
Should she use the standard deduction or itemized deductions when finding her taxable income?
A. She should use the standard deduction as it would deduct less money from her taxable income.
B. She should use itemized deductions as it would deduct less money from her taxable income.
O. She should use itemized deductions as it would deduct more money from her taxable income.
OD. She should use the standard deduction as it would deduct more money from her taxable income.
Her taxable income is
(Simplity your answer.)
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