Lacy is a single taxpayer. In 2013, her taxable income is $52,200. What is her t
ID: 2705050 • Letter: L
Question
Lacy is a single taxpayer. In 2013, her taxable income is $52,200. What is her tax liability in each of the following alternative situations? Use Tax rate schedule for reference. (Do not round intermediate calculations. Round your answer to 2 decimal places.)
All of her income is salary from her employer.
Tax liability:
Her $52,200 of taxable income includes $4,800 of qualified dividends.
Tax liability:
Her $52,200 of taxable income includes $19,700 of qualified dividends.
Tax liability:
Lacy is a single taxpayer. In 2013, her taxable income is $52,200. What is her tax liability in each of the following alternative situations? Use Tax rate schedule for reference. (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Lacy is a single taxpayer. In 2013, her taxable income is $52,200. What is her tax liability in each of the following alternative situations? Use Tax rate schedule for reference. All of her income is salary from her employer. Her $52,200 of taxable income includes $4,800 of qualified dividends. Her $52,200 of taxable income includes $19,700 of qualified dividends.Explanation / Answer
A. 52200, Tax liability= 4991.25+(.25x15950)= $8978.75
B. 47400, Tax liability= 4991.25+(.25x11150)= $7778.75
C. 32500, Tax liability= 892.50+(.15x23575)= $4428.75
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.