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- ! Required Information The following information applies to the questions displayed below] In 2023, Juanita is married and files a joint tax return with her husband. What is her tentative minimum tax in each of the following alternative circumstances? Use Tax Rate Schedule, Dividends and Capital Gains Tax Rates for reference. Note: Input all values as positive. Leave no answer blank. Enter zero if applicable. b. Her AMT base is $375,000, all ordinary Income. Answer is complete but not entirely correct. Description Amount (1) AMT base $ 375,000 (2) Dividends taxed at preferential rate (3) Tax on dividends (4) AMT base taxed at regular AMT rates 0 0 375,000 (5) Tax on AMT base taxed at 26% rate 40,118 (6) Tax on AMT base taxed at 28% rate 43,204 Tentative minimum tax S 83,322Required information [The following information applies to the questions displayed below.] In 2023, Juanita is married and files a joint tax return with her husband. What is her tentative minimum tax in each of the following alternative circumstances? Use Tax Rate Schedule, Dividends and Capital Gains Tax Rates for reference. Note: Input all values as positive. Leave no answer blank. Enter zero if applicable. c. Her AMT base is $120,000, which includes $13,000 of qualified dividends. Description (1) AMT base (2) Dividends taxed at preferential rate (3) Tax on dividends (4) AMT base taxed at regular AMT rates (5) Tax on AMT base taxed at 26% rate (6) Tax on AMT base taxed at 28% rate Tentative minimum tax AmountFor the following taxpayers, determine if they are required to file a tax return in 2023. Problem 8-80 Part a (Algo) a. Ricko, single taxpayer, with gross income of $15,800.
- ! Required information [The following information applies to the questions displayed below.] In 2023, Juanita is married and files a joint tax return with her husband. What is her tentative minimum tax in each of the following alternative circumstances? Use Tax Rate Schedule, Dividends and Capital Gains Tax Rates for reference. Note: Input all values as positive. Leave no answer blank. Enter zero if applicable. d. Her AMT base is $422,500, which includes $13,000 of qualified dividends. Description (1) AMT base (2) Dividends taxed at preferential rate (3) Tax on dividends (4) AMT base taxed at regular AMT rates (5) Tax on AMT base taxed at 26% rate (6) Tax on AMT base taxed at 28% rate Tentative minimum tax Amount! Required information Problem 8-59 (LO 8-2) (Algo) [The following information applies to the questions displayed below.] In 2022, Juanita is married and files a joint tax return with her husband. What is her tentative minimum tax in each of the following alternative circumstances? Use Tax Rate Schedule, Dividends and Capital Gains Tax Rates for reference. Note: Input all values as positive. Leave no answer blank. Enter zero if applicable. Problem 8-59 Part c (Algo) c. Her AMT base is $164,000, which includes $11,000 of qualified dividends. Description (1) AMT base (2) Dividends taxed at preferential rate (3) Tax on dividends (4) AMT base taxed at regular AMT rates (5) Tax on AMT base taxed at 26% rate (6) Tax on AMT base taxed at 28% rate Tentative minimum tax AmountGeronimo files his tax return as a head of household for year 2022. If his taxable income is $73,000, what is his average tax rate? (Use tax rate schedule.) Note: Round your final answer to two decimal places. Multiple Choice 13.94 percent 16.20 percent 11.56 percent 22.00 percent None of the choices are correct.
- Yanni, who is single, provides you with the following information for 2023: Salary State income taxes Mortgage interest expense on principal residence Charitable contributions Interest income a. Yanni's taxable income: Click here to access the exemption table. If required, round your answers to the nearest do Compute the following: b. Yanni's AMT base: c. Yanni's tentative minimum tax: LA $ SA $103,000 10,300 9,270 S 2,060 1,545 10,370 X 0 XIn 2022, Juanita is married and files a joint tax return with her husband. What is her tentative minimum tax in each of the following alternative circumstances? Use Tax Rate Schedule, Dividends and Capital Gains Tax Rates for reference. Note: Input all values as positive. Leave no answer blank. Enter zero if applicable. Required: a. Her AMT base is $105,000, all ordinary income. b. Her AMT base is $405,000, all ordinary income. c. Her AMT base is $105,000, which includes $33,200 of qualified dividends. d. Her AMT base is $405,000, which includes $33,200 of qualified dividends. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Her AMT base is $105,000, all ordinary income. Description (1) AMT base (2) Dividends taxed at preferential rate (3) Tax on dividends (4) AMT base taxed at regular AMT rates (5) Tax on AMT base taxed at 26% rate (6) Tax on AMT base taxed at 28% rate Tentative minimum tax AmountWhat is the amount of the tax liability for a single person having taxable income of $59,200? Use the appropriate Tax Tables and Tax Rate Schedules 2022 Note: All answers should be rounded to the nearest dollar. Multiple Choice $7,326. $7,147. $8,647. $6,696.
- Use the following federal tax table for biweekly earnings of a single person to help answer the question below. Emeril has gross biweekly earnings of $784.21. By claiming 1 more withholding allowance, Emeril would have $13 more in his take home pay. How many withholding allowances does Emeril currently claim? a. 3 b. 4 c. 5 d. 6Scenario: Emma (age 30) and Brad (age 32) are considering getting married before the end of 2022. The following summarizes their income and deductions: Brad Emma ABC Salary 112,000 94,000 Itemized Deductions 21,700 11,800 Requirements: Compute 2022 (1.) taxable income; (2.) income tax liability; and (3.) the average tax rate under the following scenarios. Provide the details of your computations and use formulas when appropriate. They get married on December 1, 2022 and they choose to file married joint. They get married on January 1, 2023. What is the tax consequence to Emma and Brad, if they get married on December 1, 2022?Angelena files as a head of household. In 2021, she reported $54,900 of taxable income, including a $10,300 qualified dividend. What is her gross tax liability? (Round your answer to the nearest whole dollar amount.) (Use the tax rate schedules, long-term capital gains tax brackets.) Multiple Choice 24 of 31 Next OG $6.318 $5,188 $5,068 $6,571 BRUN < Prev J