US Tax Law Taxpayer is single and has the following items: state taxes withheld, $7,500; property taxes $6,000; DMV, $500.  His state tax deduction on schedule A would be A. $14,000 B. $13,500 C. $6500 D. $10,000 E. Some other amount

Chuck, a single taxpayer, earns $78,400 in taxable income and $13,800 in interest from an investment in City of Heflin bonds. A. If Chuck earns an additional $40,000 of taxable income, what is his marginal tax rate on this income? B. What is his marginal rate if, instead, he had $40,000 of additional deductions?

hrd.3

The Tax Formula for Individuals, Filing Status and Tax Computation, The Standard Deduction (LO 1.3, 1.5, 1.8) Alicia, age 27, is a single, full-time college student. She earns $13,200 from a part-time job and has taxable interest income of $1,450. Her itemized deductions are $845. Table for the standard deduction Filing Status Standard Deduction Single $12,400   Married, filing jointly 24,800   Married, filing separately 12,400   Head of household 18,650   Qualifying widow(er) 24,800   Calculate Alicia's taxable income for 2020. $fill in the blank 1

aa.6   Scot and Vidia, married taxpayers, earn $184,000 in taxable income and $5,000 in interest from an investment in City of Tampa bonds. (Use the U.S. tax rate schedule). a If Scot and Vidia earn an additional $81,250 of taxable income, what is their marginal tax rate on this income? b. How would your answer differ if they, instead, had $81,250 of additional deductions?

s

Lisa has the following items related to her taxes:Federal tax refund (amount she overpaid)     $3000Federal taxes withheld from her paycheck    $4000California taxes withheld from her paycheck    $3000Property tax paid on her personal residence:   $9000What is the amount her itemized deduction for taxes? Select one: a. $13,000 b. $12,0000 c. $10,000 d. $16,0000

aj.3