In April of this year Rachel received a $1,780 refund of state income taxes that she paid last year. Last year Rachel claimed itemized deductions of $12,400. Rachel's itemized deductions included state income taxes paid of $850. How much of the refund, if any, must Rachel include in the gross income if the standard deduction last year was $12,000?

Louis files as a single taxpayer. In April of this year he received a $980 refund of state income taxes that he paid last year.   How much of the refund, if any, must Louis include in gross income under the following independent scenarios? Assume the standard deduction last year was $12,400. (Leave no answer blank. Enter zero if applicable.)   Problem 5-51 Part-b (Algo) b. Last year Louis had itemized deductions of $9,810 and he chose to claim the standard deduction. Louis’s itemized deductions included state income taxes paid of $2,335 and no other state or local taxes. Refund to be included in gross income- _______

Toby and Nancy are engaged and plan to get married. During 2023, Toby is a full-time student and earns $7,600 from a part-time job. With this income, student loans, savings, and nontaxable scholarships, he is self-supporting. For the year, Nancy is employed and has wages of $59,400. Click here to access the standard deduction table to use. Click here to access the Tax Rate Schedules. If an amount is zero, enter, "0". Do not round your intermediate computations. Round your final answer to the nearest whole dollar. a. Compute the following: Gross income and AGI Standard deduction (single) Taxable income Income tax Gross income and AGI Toby Filing Single b. Assume that Toby and Nancy get married in 2023 and file a joint return. What is their taxable income and income tax? Round your final answer to the nearest whole dollar. Standard deduction (married, filing jointly) Taxable income Income tax Nancy Filing Single Married Filing Jointly c. How much income tax can Toby and Nancy save if…

Trudy's AGI last year was $366,000. Her Federal income tax came to $109,800, paid through both withholding and estimated payments. This year, her AGI will be $549,000, with a projected tax liability of $82,350, all to be paid through estimates. Trudy wants to pay the least amount of tax that does not incur a penalty. Note: Ignore the annualized income method. If required, round intermediate calculations to two decimal place and your final answer to the nearest dollar. a.  Compute Trudy's total estimated tax payments for this year.Under the current-year method: $Under the prior-year method: $ b.  Assume instead that Trudy's AGI last year was $86,000 and resulted in a Federal income tax of $17,200. Determine her total estimated tax payments for this year.Under the current-year method: $Under the prior-year method: $