Calculate the income tax for an individual who has: $163,511.00 of income from all sources $6,304.00

Calculate the income tax for an individual who has:
 

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• $163,511.00 of income from all sources ● $6,304.00 in Exclusions $14,996.00 in Adjustments $12,390.00 in below-the-line Deductions $2,737.00 in Credits ● ● • For the purposes of this question, assume this is an individual taxpayer. Also assume a standard deduction of $12,550.00. In calculating the tax, use the following tax rates and brackets: Income Up to $9,950 $9,951 to $40,525 $40,526 to $86,375 $86,376 to $164,925 $164,926 to $209,425 $209,426 to $523,600 $523,601 and more Rate 10% 12% 22% 24% 32% 35% 37% • $163,511.00 of income from all sources ● $6,304.00 in Exclusions $14,996.00 in Adjustments $12,390.00 in below-the-line Deductions $2,737.00 in Credits ● ● • For the purposes of this question, assume this is an individual taxpayer. Also assume a standard deduction of $12,550.00. In calculating the tax, use the following tax rates and brackets: Income Up to $9,950 $9,951 to $40,525 $40,526 to $86,375 $86,376 to $164,925 $164,926 to $209,425 $209,426 to $523,600 $523,601 and more Rate 10% 12% 22% 24% 32% 35% 37%

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Calculation of the Adjusted Gross Income AGI AGI Income Exclusions Adjustments AGI 163511... View the full answer