received $77,000 of taxable income in 2022. - she is married but file a separate tax return. Her taxable income is $77,000. What is the income tax liabilit
received $77,000 of taxable income in 2022. - she is married but file a separate tax return. Her taxable income is $77,000. What is the income tax liabilit
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter18: Accounting For Income Taxes
Section: Chapter Questions
Problem 2RE: Refer to RE18-1. Assume that Parkers taxable income for Year 1 is 150,000. Prepare the journal entry...
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Whitney received $77,000 of taxable income in 2022.
- she is married but file a separate tax return. Her taxable income is $77,000. What is the income tax liability?
![Schedule Y-2-Married Filing Separately
If taxable income is over: But not over:
$ 10,275
$ 41,775
$ 89,075
$ 170,050
$ 215,950
$ 323,925
$
0
$ 10,275
$ 41,775
$ 89,075
$ 170,050
$215,950
$ 323,925
41°F
Sunny
The tax is:
10% of taxable income
$1,027.50 plus 12% of the excess over $10,275
$4,807.50 plus 22% of the excess over $41,775
$15,213.50 plus 24% of the excess over $89,075
$34,647.50 plus 32% of the excess over $170,050
$49.335.50 plus 35% of the excess over $215,950
$87,126.75 plus 37% of the excess over $323,925](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4fdd5d65-7352-48f5-bff8-28368afb7b3f%2Ff6e9ea2c-9d22-4ab1-93af-d579bdf6bee5%2Fwna7z2u6_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Schedule Y-2-Married Filing Separately
If taxable income is over: But not over:
$ 10,275
$ 41,775
$ 89,075
$ 170,050
$ 215,950
$ 323,925
$
0
$ 10,275
$ 41,775
$ 89,075
$ 170,050
$215,950
$ 323,925
41°F
Sunny
The tax is:
10% of taxable income
$1,027.50 plus 12% of the excess over $10,275
$4,807.50 plus 22% of the excess over $41,775
$15,213.50 plus 24% of the excess over $89,075
$34,647.50 plus 32% of the excess over $170,050
$49.335.50 plus 35% of the excess over $215,950
$87,126.75 plus 37% of the excess over $323,925
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