Lacy is a single taxpayer. In 2021, her taxable income is $42,400. What is her tax liability
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Lacy is a single taxpayer. In 2021, her taxable income is $42,400. What is her tax liability in each of the following alternative situations? Use Tax Rate Schedule, Dividends and Capital Gains Tax Rates for reference. (Do not round intermediate calculations. Round your answer to 2 decimal places.)
a. All of her income is salary from her employer.
Tax Liability : ____________
b. Her $42,400 of taxable income includes $1,400 of qualified dividends.
Tax Liability : ____________
c. Her $42,400 of taxable income includes $5,400 of qualified dividends.
Tax Liability : ____________
Related Book For
Taxation Of Individuals And Business Entities 2015
ISBN: 9780077862367
6th Edition
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
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