Marc, a single taxpayer, earns $60,000 in taxable income and $5,000 in interest from an investment...

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Marc, a single taxpayer, earns $60,000 in taxable income and $5,000 in interest from an investment...

Marc, a single taxpayer, earns $60,000 in taxable income and $5,000 in interest from an investment in city of Birmingham Bonds. Using the U.S. tax rate schedule for year 2018, how much federal tax will he owe?

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Answer 1

Answer #1

Marc falls in the tax bracket $38,700 - $82,500

Federal tax owed	9139.50	=4453.50+(60000-38700)*22%

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Answer 2

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