Ms. Gleason, an unmarried taxpayer, had the following income items: $ 40,000 3,200 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 $4,380 to t has no itemized deductions. Required: Compute Child Credit, Dependent Credit, and her income tax after these two credits. Assume the taxable year is 202 Tax Rate Schedules and Standard Deduction Table. (Round your intermediate computations to the nearest whole de Child Credit In Amount

Ms. Gleason, an unmarried taxpayer, had the following income items: $ 40,000 3,200 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 $4,380 to t has no itemized deductions. Required: Compute Child Credit, Dependent Credit, and her income tax after these two credits. Assume the taxable year is 202 Tax Rate Schedules and Standard Deduction Table. (Round your intermediate computations to the nearest whole de Child Credit In Amount

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter2: Gross Income And Exclusions

Section: Chapter Questions

Problem 24MCQ

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