Gleason, taxpayer, Salary Net income from a rental house following income $ 43, 200 1,800 Is. Gleason has a four-year-old son who attends a day care center while she is at work. Ms. Gleason paid $4,080 to this center and as no itemized deductions. equired: ompute Child Credit, Dependent Credit, and her Income tax after these two credits. Assume the taxable year is 2021. Use Individual ax Rate Schedules and Standard Deduction Table. (Round your Intermediate computations to the nearest whole dollar amount.)
Gleason, taxpayer, Salary Net income from a rental house following income $ 43, 200 1,800 Is. Gleason has a four-year-old son who attends a day care center while she is at work. Ms. Gleason paid $4,080 to this center and as no itemized deductions. equired: ompute Child Credit, Dependent Credit, and her Income tax after these two credits. Assume the taxable year is 2021. Use Individual ax Rate Schedules and Standard Deduction Table. (Round your Intermediate computations to the nearest whole dollar amount.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Ms. Gleason, an unmarried taxpayer, had the following Income Items:
$ 43,200
1,800
salary
Net income from a rental house
Ms. Gleason has a four-year-old son who attends a day care center while she is at work. Ms. Gleason paid $4,080 to this center and
has no itemized deductions.
Required:
Compute Child Credit, Dependent Credit, and her Income tax after these two credits. Assume the taxable year is 2021. Use Individual
Tax Rate Schedules and Standard Deduction Table. (Round your Intermediate computations to the nearest whole dollar amount.)
Child credit
Dependent credit
Income tax
Amount
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