Question: Lacy is a single taxpayer. In 2017, her taxable income is $40,000. What is her tax liability in each of the following alternative situations? a.

Lacy is a single taxpayer. In 2017, her taxable income is $40,000. What is her tax liability in each of the following alternative situations?
a. All of her income is salary from her employer.
b. Her $40,000 of taxable income includes $1,000 of qualified dividends.
c. Her $40,000 of taxable income includes $5,000 of qualified dividends.

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