Determine the amount of tax liability in the following situations. In all cases, the taxpayer is using the filing status of married filing jointly. Use the Tax Tables for taxpayers with taxable income under $100,000 and the Tax Rate Schedules for those with taxable income above $100,000. Required: a. Taxable income of $63,549 that includes a qualified dividend of $995. b. Taxable income of $13,772 that includes a qualified dividend of $361. c. Taxable income of $147,100 that includes a qualified dividend of $4,385. Note: Round your intermediate calculations to 2 decimal places and final answer to the nearest whole dollar amount. d. Taxable income of $44,447 that includes a qualified dividend of $1,204. e. Taxable income of $294,909 that includes a qualified dividend of $17,865. Note: Round your intermediate calculations to 2 decimal places and final answer to the nearest whole dollar amount. a. Tax liability b. d. نه ه ن فه
Determine the amount of tax liability in the following situations. In all cases, the taxpayer is using the filing status of married filing jointly. Use the Tax Tables for taxpayers with taxable income under $100,000 and the Tax Rate Schedules for those with taxable income above $100,000. Required: a. Taxable income of $63,549 that includes a qualified dividend of $995. b. Taxable income of $13,772 that includes a qualified dividend of $361. c. Taxable income of $147,100 that includes a qualified dividend of $4,385. Note: Round your intermediate calculations to 2 decimal places and final answer to the nearest whole dollar amount. d. Taxable income of $44,447 that includes a qualified dividend of $1,204. e. Taxable income of $294,909 that includes a qualified dividend of $17,865. Note: Round your intermediate calculations to 2 decimal places and final answer to the nearest whole dollar amount. a. Tax liability b. d. نه ه ن فه
Chapter7: Tax Credits
Section: Chapter Questions
Problem 6MCQ: For purposes of determining income eligibility for the premium tax credit, household AGI is AGI for...
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Transcribed Image Text:Determine the amount of tax liability in the following situations. In all cases, the taxpayer is using the filing status of married filing
jointly. Use the Tax Tables for taxpayers with taxable income under $100,000 and the Tax Rate Schedules for those with taxable
income above $100,000.
Required:
a. Taxable income of $63,549 that includes a qualified dividend of $995.
b. Taxable income of $13,772 that includes a qualified dividend of $361.
c. Taxable income of $147,100 that includes a qualified dividend of $4,385.
Note: Round your intermediate calculations to 2 decimal places and final answer to the nearest whole dollar amount.
d. Taxable income of $44,447 that includes a qualified dividend of $1,204.
e. Taxable income of $294,909 that includes a qualified dividend of $17,865.
Note: Round your intermediate calculations to 2 decimal places and final answer to the nearest whole dollar amount.
a.
Tax liability
b.
d.
نه
ه
ن
فه
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