The Park family consists of the following: Jackie O. Park, age 40; SSN: XXX-XX-XXXX; business analyst,...

 

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The Park family consists of the following: Jackie O. Park, age 40; SSN: XXX-XX-XXXX; business analyst, single; unmarried Leslie T. Park, age 16; SSN: 000-00-0000; daughter, high-school student, lives at home Alex K. Park; age 12; SSN: NNN-NN-NNNN; son; middle-school student, lives at home Pertinent infomation: Address: 132 OakbroOk Drive, Houston, Texas 77091 The Parks do not want to contribute to the presidential election campaign Jackie does not recerve child support. She pays all of the household expenses including the upkeep of Leslie and Alex. Only Jackie can claim Leslie and Alex as dependents. Using the correct Tax Rate Schedule (Not to be confused with the IRS Tax Tables) calculate the tax payer's Tax Liability Jackie had the following earnings on her W-2: Wages: $55,159 Federal tax withheld: $7,460 Social Security tax withheld: $3,420 Medicare tax witheld: $800 Other tax data: Texas State's general sales tax deduction allowed is $924. Jackie received S610 of personal interest income from her bank. She donated $230 in cash to her church during the year. Real estate taxes paid on her personal residence were $1,980, and the mortgage interest paid to her bank in New York, NY on the primary residence for the year was $16,000. Medical expenses for the family were as follows: medical insurance premium $3,244 payments for doctor's visits $1,760 $850 was paid for dentists $230 for presciption drugs Using the proper tax rate schedule for her filing status, calculate Jackie's tax liability The Park family consists of the following: Jackie O. Park, age 40; SSN: XXX-XX-XXXX; business analyst, single; unmarried Leslie T. Park, age 16; SSN: 000-00-0000; daughter, high-school student, lives at home Alex K. Park; age 12; SSN: NNN-NN-NNNN; son; middle-school student, lives at home Pertinent infomation: Address: 132 OakbroOk Drive, Houston, Texas 77091 The Parks do not want to contribute to the presidential election campaign Jackie does not recerve child support. She pays all of the household expenses including the upkeep of Leslie and Alex. Only Jackie can claim Leslie and Alex as dependents. Using the correct Tax Rate Schedule (Not to be confused with the IRS Tax Tables) calculate the tax payer's Tax Liability Jackie had the following earnings on her W-2: Wages: $55,159 Federal tax withheld: $7,460 Social Security tax withheld: $3,420 Medicare tax witheld: $800 Other tax data: Texas State's general sales tax deduction allowed is $924. Jackie received S610 of personal interest income from her bank. She donated $230 in cash to her church during the year. Real estate taxes paid on her personal residence were $1,980, and the mortgage interest paid to her bank in New York, NY on the primary residence for the year was $16,000. Medical expenses for the family were as follows: medical insurance premium $3,244 payments for doctor's visits $1,760 $850 was paid for dentists $230 for presciption drugs Using the proper tax rate schedule for her filing status, calculate Jackie's tax liability

Answer rating: 100% (QA)

Income tax codulation for Jackie as per 1040A For 2020 fed... View the full answer