Help me fill out the table?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
The table below gives tax information for three different workers in 2009. Each worker used the standard deduction and claimed all available exemptions. Assuming that none of the workers had any additional adjustments, fill in the missing information in the table. Use the example as a guide.
In the 2009 tax year, each exemption was worth $3650. Also, for the "Single" and "Married filing separately" filing statuses, the standard deduction was $5700, for "Head of household," it was $8350, and for "Married filing jointly," it was $11,400.
Help me fill out the table?
Transcribed Image Text:In the 2009 tax year, each exemption was worth $3650. Also, for the "Single" and
"Married filing separately" filing statuses, the standard deduction was $5700, for
"Head of household, it was $8350, and for "Married filing jointly," it was $11,400.
Number of Total Value of
Exemptions Exemptions
Standard
Тахable
Gross Income Filing Status
Deduction
Income
Example
Married Filing
Jointly
$78,480
$11,400
$14,600
$52,480
$46,390
59,390 -
(5700 + 7300)
1.
$59,390
Single
$7300
2.
$8350
3
$42,540
Married Filing
3.
$18,250
$44,380
Separately
Expert Solution
Step 1 Standard deduction for the tax year 2009
| Year | Single | Married filing jointly | Married filing separately | Head of household | Qualifying surviving spouse |
| 2009 | $5,700 | $11,400 | $5,700 | $8,350 | $11,400 |
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