Zack is single and  has collected the following information for preparing his 2021 taxes: Gross income $74,000, tax credits $2,500, itemized deductions $9,000, deductions for AGI $5,000, tax prepayments $8,400. Based on this information, Zack's "adjusted gross income" equals $, and his "taxable income" equals $.

Henrich is a single taxpayer. In 2022, his taxable income is $488,500. 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. Required: His $488,500 of taxable income includes $56,000 of long-term capital gain that is taxed at preferential rates. Assume his modified AGI is $520,000. Henrich has $199,250 of taxable income, which includes $51,700 of long-term capital gain that is taxed at preferential rates. Assume his modified AGI is $218,500.

Cameron is single and has taxable income of $92,616. Determine his tax liability using the tax tables and using the tax rate schedule. Why is there a difference between the two amounts?

krystal is single. Last year, she earned $35,800 wages. Additional tax information for the year is as follows.. Interest earned $136, capital gains from sale of stock $1850. alimony paid $6,100, contributions to IRA retirement fund $ 2800; Real estate taxes $1600, mortgage interest paid $5100. The following table gives the standard deduction for various statuses.

Ross is single with an adjusted gross income of $73,100, and he uses the standard deduction for single filers. After first finding his taxable income, calculate his tax liability (in $).

Marc, a single taxpayer, earns $60,800 in taxable income and $5,080 in interest from an investment in city of Birmingham bonds. Using the U.S. tax rate schedule for year 2022, what is his effective tax rate? (Use tax rate schedule.)

Henrich is a single taxpayer. In 2019, his taxable income is $456,500. What is 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, Estates and Trusts for reference. (Do not round intermediate calculations. Round your answers to 2 decimal places. Leave no answer blank. Enter zero if applicable.)  Estates and Trusts If taxable income is over: But not over:   The tax is: $         0 $  2,600   10% of taxable income $  2,600 $  9,300   $260 plus 24% of the excess over $2,600 $  9,300 $12,750   $1,868 plus 35% of the excess over $9,300 $12,750     $3,075.50 plus 37% of the excess over $12,750 Tax Rates for Net Capital Gains and Qualified Dividends Rate* Taxable Income Married Filing Jointly Married Filing Separately Single Head of Household Trusts and Estates 0% $0 - $78,750 $0 - $39,375 $0 - $39,375 $0 - $52,750 $0 - $2,650 15% $78,751 - $488,850 $39,376…

Sharon Jones is single. During 2022, she had gross income of $159,800, deductions for AGI of $5,500, itemized deductions of $14,000 and tax credits of $2,000. Sharon had $22,000 withheld by their employer for federal income tax. She has a tax  (due/refund) rounded to the nearest whole dollar of $.

Duela Dent is single and had $178,400 in taxable income. Use the rates from Table 2.3. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Calculate her income taxes. Income taxes $ 57,088.00

Mario, a single taxpayer with two dependent children, has the following items of income and expense during 2020: Gross receipts from business $144,000 Business expenses 180,000 Net capital gain 22,000 Interest income 3,000 Itemized deductions (state taxes, residence interest, and contributions) 24,000 a.  Determine Mario's taxable income or loss for 2020. Adjusted gross income   Less: itemized deductions   Less: Deduction for qualified business income   Loss    b. Indicate which items are adjustments to taxable income or loss when computing an NOL. Business receipts   Business Expenses   Net capital gain   Interest income   Itemized deductions   c.  Determine Mario's NOL for 2020. Mario's NOL is ?