Mr. Rogers, an unmarried individual, had the following income items: Salary $ 519,600 Interest income 24,200 Dividend eligible for 20% rate. 46,000 Mr. Rogers had $35,500 itemized deductions and four dependent children (ages 5 through 15). Required: Compute his income tax (before credits). Assume the taxable year is 2021. 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 $ 589,800
Mr. Rogers, an unmarried individual, had the following income items: Salary $ 519,600 Interest income 24,200 Dividend eligible for 20% rate. 46,000 Mr. Rogers had $35,500 itemized deductions and four dependent children (ages 5 through 15). Required: Compute his income tax (before credits). Assume the taxable year is 2021. 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 $ 589,800
Chapter8: Taxation Of Individuals
Section: Chapter Questions
Problem 26P
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT