Lara, a single individual, has $140,000 taxable income. Assume the taxable year is 2023. Use Individual Tax Rate Schedules. Required: Compute income tax assuming that: a. Taxable income includes no capital gain. b. Taxable income includes $26,600 capital gain eligible for the 15 percent preferential rate. Note: For all requirements, round your intermediate calculations and final answers to the nearest whole dollar amount.

Determine from the tax table or the tax rate schedule, whichever is appropriate, the amount of the income tax for each of the following taxpayers for 2020. Please show all work and calculations where appropriate. Taxpayer(s) Filing Status Taxable Income Income Tax Macintosh Single $35,700 ​ Hindmarsh MFS $62,000 ​ Kinney MFJ $143,000 ​ Rosenthal H of H $91,500 ​ Wilk Single $21,400

Mr. Coleman, an unmarried individual, has the following income items: Interest income Schedule C net profit $23,200 61,640 He has $10,300 itemized deductions and no dependents. Mr. Coleman's Schedule C income is qualified business income (non service). Required: Compute Mr. Coleman's income tax. Assume the taxable year is 2020. Use Individual Tax Rate Schedules and Standard Deduction Table. (Round your intermediate calculations and final answers to the nearest whole dollar amount.) AGI Taxable Income Income tax Amount

Mary Matthews made $1,150 during a biweekly pay period. Only social security (fully taxable) and federal income taxes attach to her pay. Matthews contributes $100 from each biweekly pay to her company's 401k. Determine Matthews' take home pay if she is married filing jointly. (Use wage bracket method) Round your answer to two decimal places.    please use 2022 tax rate tables

In 2023, Jasmine and Thomas, a married couple, had taxable income of $162,000. If they were to file separate tax returns, Jasmine would have reported taxable income of $152,000 and Thomas would have reported taxable income of $10,000. Use Tax Rate Schedule for reference. What is the couple's marriage penalty or benefit? Note: Do not round intermediate calculations. Round your final answer to the nearest whole dollar. X Answer is complete but not entirely correct. Marriage benefit 23,615 X

Vishnu

! 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

1. Using the information below, fill in the blanks in the far right column with the amount of each item that is included in Adjusted Gross Income. These may either be additions to or subtractions from AGI (or neither). Calculate Kim's Adjusted Gross Income, Standard or Itemized deductions, Taxable Income (TI), Tax on Taxable Income (Tax Liability), and Amount Due or Refund for 2022. Kim is single, 42 years old, and blind. Kim's employer withheld $10,500 of federal income tax from her wages. Then answer questions 2-5. Item Description Salary Interest received on Marathon Oil Corp (MRO) bonds Interest received on City of Whitewater general revenue bonds. Alimony received Gift from parents Loss gambling in the office pool for the NFL playoffs Adjusted Gross Income (AGI) Amount Taxable Income: 73,000 1,100 725 8,500 9,000 -500 Standard (basic + additional) or Itemized deduction (greater of) Notes reported on W2 reported on 1099 INT reported on 1099 INT divorced in 2021 Tax amount from the…

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Required information [The following information applies to the questions displayed below.] Henrich is a single taxpayer. In 2023, his taxable income is $530,000. What are his income tax and net investment income tax liability in each of the following alternative scenarios? Use Tax Rate Schedule. Dividends and Capital Gains Tax Rates for reference. Note: Do not round intermediate calculations. Leave no answer blank. Enter zero if applicable. Round your final answers to 2 decimal places. b. His $530,000 of taxable income includes $2,000 of long-term capital gain that is taxed at preferential rates. Assume his modified AGI is $570,000. Answer is complete but not entirely correct. Income tax Net investment income tax Total tax liability Amount 159,251.75 x 2,000.00 x 161,251.75