845 and 46: Find the amount of taxable income and the tas owed. The letter follo

Question

845 and 46: Find the amount of taxable income and the tas owed. The letter following the name indicates the marital status, and all married people are filing jointly. Use $3700 for each personal exemption: a standard deduction of $5800 for single people, S11,600 for married people filing jointly, 55800 for married people filing separately, and $8500 for head of a household; and the follow ing tax rate schedule. 2011 Tax Rate Schedules 1254175. 1 2287 00 Points: 2 45) Name The Edwards, M Number of Adjusted TotalTaxable Tax Exemptions Gross Income Deductions Income Owed 5 $100,743 $11,625 Points: 2 46) Name The Lenzos, M Taxable Income Federal Income Tax Withheld from Checks Tax Refund or Tax Due $83,153 $236.73 weekly Sp2018, LC

Explanation / Answer

46.

46.

Adjusted Gross income 100745.00 Less:         Personal exemptions 18500      (5 X 3,700) Standard deduction 11600 Total Deductions 30100.00 Taxable income 70645.00 Tax Owed 9911.25 (9,500 + 25% X 1,645)

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