MINDTAP FINANCE FOR GARMAN/FORGUE'S PER
MINDTAP FINANCE FOR GARMAN/FORGUE'S PER
13th Edition
ISBN: 9781337288347
Author: FORGUE
Publisher: CENGAGE LEARNING - CONSIGNMENT
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Chapter 4, Problem 4DTM

Use Tax Rate Schedule. Jared Goff, of Los Angeles, Determined the following tax information: gross salary, $160,000; interest earned, $2,000; IRA contribution, $5,000; personal exemption, $4,050; and itemized deductions, $8,000. Calculate Jared’s taxable income and tax liability filing single. (Hint: Use Table 4-2.)

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