Problem 8-59 (LO 8-2) (Static)[The following information applies to the questions displayed below.In 2023, Juanita is married and files a joint tax return with her husband. What is her tentative minimum tax in efollowing alternative circumstances? Use Tax Rate Schedule. Dividends and Capital Gains Tax Rates for referesNote: Input all values as positive. Leave no answer blank. Enter zero if applicable.Problem 8-59 Part a (Static)a. Her AMT base is $100,000, all ordinary income.Answer is complete but not entirely correct.Amount$ 100,000Description(1) AMT base(2) Dividends taxed at preferential rate(3) Tax on dividends(4) AMT base taxed at regular AMT rates(5) Tax on AMT base taxed at 26% rate(6) Tax on AMT base taxed at 28% rateTentative minimum tax00100,000161,000›› › ›***41,860 X0x

In 2023, Juanita is married and files a joint tax return with her husband. What is her tentative minimum ta following alternative circumstances? Use Tax Rate Schedule. Dividends and Capital Gains Tax Rates for re Note: Input all values as positive. Leave no answer blank. Enter zero if applicable.

In 2023, Juanita is married and files a joint tax return with her husband. What is her tentative minimum ta following alternative circumstances? Use Tax Rate Schedule. Dividends and Capital Gains Tax Rates for re Note: Input all values as positive. Leave no answer blank. Enter zero if applicable.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Compute the 2020 standard deduction for the following taxpayers. а. Ellie is 15 and claimed as a dependent by her parents. She has $800 in dividends income and $1,400 in wages from a part -time job. b. Ruby and Woody are married and file a joint tax return. Ruby is age 66, and Woody is 69. Their taxable retirement income is $10,000 c. Shonda is age 68 and single. She is claimed by her daughter as a dependent. Her earned income is $500, and her interest income is $125. d. Frazier, age 55, is married but is filing a separate return. His wife itemizes her deductions. Please use Microsoft excel for calculations.
Calculate Total Assessable Income, Taxable Income, Tax Liability, Medicare Levy and Medicare Levy Surcharge, if applicable, for the taxpayer (Jenny) with information below: Jenny is a resident single mom with one dependent child (7 years old) taxpayer of Australia for the tax year 2019-2020 Her Taxable Salary earned is $120,000 (Including tax withheld) having no private health insurance. Jenny has a student loan outstanding for his previous studies at Queensland University of $32,000. Jenny’s employer pays superannuation guarantee charge of 9.5% on top of her salary to her nominated fund. Jenny earned a passive income of $5,000 from the investments in shares in the same tax year.
i need the answer quickly
Jane needs to lodge his income tax for 2020/21. Calculate her Total Assessable Income, Taxable Income, Tax Liability, Student loan (HECS), Medicare Levy, and Medicare Levy Surcharge if applicable, for the taxpayer with the information below:• Jane is a single and an Australian resident who plans to lodge tax for the tax year 2020 -2021• Her total taxable income is $100,000 (Including tax withheld)• She does not have private health insurance.• Jane has a student loan HECS outstanding for her previous study at Tasmania University of $43,000.• Her employer pays superannuation guarantee charge of 9.5% on top of her salary to her nominated fund.• Jane earned a passive income of $6,000 from the investments in shares in the same tax year. Calculate: Total Assessable incomeTotal taxable incomeUsing correct income tax rateMedicare LevyMedicare Levy SurchargeHELP repayment amount with using current threshold and rateTotal Tax LiabilityNet Tax Liability (Total Tax Liability less any applicable…
Required information [The following information applies to the questions displayed below.] In 2023, Juanita is married and files a joint tax return with her husband. What is her tentative minimum tax in each of the following alternative circumstances? Use Tax Rate Schedule, Dividends and Capital Gains Tax Rates for reference. Note: Input all values as positive. Leave no answer blank. Enter zero if applicable. c. Her AMT base is $120,000, which includes $13,000 of qualified dividends. Description (1) AMT base (2) Dividends taxed at preferential rate (3) Tax on dividends (4) AMT base taxed at regular AMT rates (5) Tax on AMT base taxed at 26% rate (6) Tax on AMT base taxed at 28% rate Tentative minimum tax Amount
Janie graduates from high school in 2019 and enrolls in college in the fall. Her parents (who file a joint return) pay $8,725 for her tuition and fees. If required, round your computations to the nearest whole value. a. Assuming Janie's parents have AGI of $170,000, what is the American Opportunity tax credit they can claim for Janie?$fill in the blank f1e43ef63038fac_1 b. Assuming Janie's parents have AGI of $68,000, what is the American Opportunity tax credit they can claim for Janie?$fill in the blank da335a09e043f8f_1
In 2021, Lisa and Fred, a married couple, had taxable income of $321,000. If they were to file separate tax returns, Lisa would have reported taxable income of $132,000 and Fred would have reported taxable income of $189,000. Use Tax Rate Schedule for reference. What is the couple's marriage penalty or benefit? (Do not round intermediate calculations.) Marriage benefit
Rey