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35) Marlee, a single parent of one dependent child, has $19,000 in itemized deductions and files...

35) Marlee, a single parent of one dependent child, has $19,000 in itemized deductions and files as head of household for 2019. Determine her taxable income and income tax liability if she has a salary of $71,000 and interest income of $1,500.

Answer = 6,208

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Answer #1
Gross Income 72,500 =71000+1500
Less: Greater of standard deduction or itemized deductions 19,000 Higher of 19,000 or Standard ded. $ 18,350
Taxable Income $ 53,500
Income Tax liability $ 6,208 =13850*10%+(52850-13850)*12%+(53500-52850)*22%
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