Use the 2016 marginal tax rates to compute the tax owed by the following person.A married woman filing separately with a taxable income of $198,000.i Click the icon to view the 2016 marginal tax rates.THEThe tax owed is $(Type an integer or a decimal. Round to the nearest cent as needed.) 2016 Marginal Tax RatesUnmarried, divorced,or legally separatedTax Rate10%15%25%28%33%35%39.6%StandardDeductionExemptions(nor norson)Singleup to $9275$9276 to $37,650$37,651 to $91,150$91,151 to $190,150$190,151 to $413,350$413,351 to $415,050more than $415,050$6300$4050Married and each partnerfiles a separate tax returnMarried and bothpartners file a singletax returnMarried Filing Separately Married Filing Jointlyup to $9275$9276 to $37,650$37,651 to $75,950$75,951 to $115,725$115,726 to $206,675$206,676 to $233,475more than $233,475$6300up to $18,550$18,551 to $75,300$75,301 to $151,900$151,901 to $231,450$231,451 to $413,350$413,351 to $466,950more than $466,950$12,600$4050$4050Unmarried and payingmore than half the costof supporting a childor parentHead of Householdup to $13,250$13,251 to $50,400$50,401 to $130,150$130,151 to $210,800$210,801 to $413,350$413,351 to $441,000more than $441,000$9300$4050

Use the 2016 marginal tax rates to compute the tax owed by the following person. A married woman filing separately with a taxable income of $198,000. Click the icon to view the 2016 marginal tax rates. *** The tax owed is $ (Type an integer or a decimal. Round to the nearest cent as needed.)

Use the 2016 marginal tax rates to compute the tax owed by the following person. A married woman filing separately with a taxable income of $198,000. Click the icon to view the 2016 marginal tax rates. *** The tax owed is $ (Type an integer or a decimal. Round to the nearest cent as needed.)

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter9: Individuals As Taxpayers

Section: Chapter Questions

Problem 4CE

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