Question: please help me! the tables are under below Terrell, an unmarried individual, has the following income items: Schedule C net profit % 31,900 salary 55,120
please help me! the tables are under below
Terrell, an unmarried individual, has the following income items: Schedule C net profit % 31,900 salary 55,120 MOL carryforward deduction (9,198) Interest income 725 Terrell's self-employment tax was $4,507. Terrell had $6,270 in itemized deductions and one dependent child (age 9) who lives with Terrell. Terrell's Schedule C net business profit is qualified business income (non-service). Required: Compute Terrell's income tax (before credits). Assume the taxable year is 2024. Use Individual Tax Rate Schedules and Standard Deduction Table. Note: Round your intermediate calculations and final answers to the nearest whole dollar amount. ) Answer is complete but not entirely correct. AGI 5 76302 Taxable Income 5 63351 Income Tax 6,981 6 Individual Tax Rate Schedules Married Filing Jointly and Surviving Spouse If taxable income is The tax is Not over $23,200 10% of taxable income Over $23,200 but not over $94,300 $2,320.00 + 12% of excess over $23,200 Over $94,300 but not over $201,050 $10,852.00 + 22% of excess over $94,300 Over $201,050 but not over $383,900 $34,337.00 + 24% of excess over $201,050 Over $383,900 but not over $487,450 $78,221.00 + 32% of excess over $383,900 Over $487,450 but not over $731,200 $111,357.00 + 35% of excess over $487,450 Over $731,200 $196,669.50 + 37% of excess over $731,200 Married Filing Separately If taxable income is The tax is Not over $11,600 10% of taxable income Over $11,600 but not over $47,150 $1,160.00 + 12% of excess over $11,600 Over $47,150 but not over $100,525 $5,426.00 + 22% of excess over $47,150 Over $100,525 but not over $191,950 $17,168.50 + 24% of excess over $100,525 Over $191,950 but not over $243,725 $39,110.50 + 32% of excess over $191,950 Over $243,725 but not over $365,600 $55,678.50 + 35% of excess over $243,725 Over $365,600 $98,334.75 + 37% of excess over $365,600 Head of Household If taxable income is The tax is Not over $16,550 10% of taxable income Over $16,550 but not over $63,100 $1,655.00 + 12% of excess over $16,550 Over $63,100 but not over $100,500 $7,241.00 + 22% of excess over $63,100 Over $100,500 but not over $191,950 $15,469.00 + 24% of excess over $100,500 Over $191,950 but not over $243,700 $37,417.00 + 32% of excess over $191,950 Over $243,700 but not over $609,350 $53,977.00 + 35% of excess over $243,700 Over $609,350 $181,954.50 + 37% of excess over $609,350 Single If taxable income is The tax is Not over $11,600 10% of taxable income Over $11,600 but not over $47,150 $1,160.00 + 12% of excess over $11,600 Over $47,150 but not over $100,525 $5,426.00 + 22% of excess over $47.150 Over $100,525 but not over $191,950 $17,168.50 + 24% of excess over $100,525 Over $191,950 but not over $243,725 $39,110.50 + 32% of excess over $191,950 Over $243,725 but not over $609,350 $55,678.50 + 35% of excess over $243.725 Over $609,350 $183,647.25 + 37% of excess over $609,350Married filing jointly and surviving spouses $29.200 Married filing separately 14,600 Head of household 21.900 14.600 13 357 points Standard Deduction Table. TR LR T Y Cole, an unmarried individual with no dependents, has the following income items: Interest income % 24,200 Schedule C net profit 50,660 Cole has $9,300 itemized deductions and the Schedule C income is qualified business income (non- service). Required: ey Compute Cole's income tax. Assume the taxable year is 2024. Useglndividual Tax Rate Schedule :and Note: Round your intermediate calculations and final answers to the nearest whole dollar amount. Answer is complete but not entirely correct. AGI 5 71225@ Taxable Income 5 48,705 Income Tax 5 65056 18 3.57 points Return to question Brandon, an unmarried individual, has $196,400 taxable income. Assume the taxable year is 2024. Use Individual Tax Rate Schedules. Required: a. Identify Brandon's statutory marginal rate and compute average tax rate assuming Brandon is a single taxpayer. b. Identify Brandon's statutory marginal rate and compute average tax rate assuming Brandon is a head of household. c. Identify Brandon's statutory marginal rate and compute average tax rate assuming Brandon is a surviving spouse. o Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required A Required B Required C Identify Brandon's statutory marginal rate and compute average tax rate assuming Brandon is a single taxpayer Note: Do not round intermediate calculation. Round your "Average rate" answer to 2 decimal places (for exampl Marginal rate 20 % Average rate 2064 @ % Required B > Brandon, an unmarried individual, has $196,400 taxable income. Assume the taxable year is 2024 Use Individual Tax Rate Schedules. 3.57 points Required: a. Identify Brandon's statutory marginal rate and compute average tax rate assuming Brandon is a single taxpayer. b. Identify Brandon's statutory marginal rate and compute average tax rate assuming Brandon is a head of household. c. Identify Brandon's statutory marginal rate and compute average tax rate assuming Brandon is a surviving spouse. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required A Required B Required C Identify Brandon's statutory marginal rate and compute average tax rate assuming Brandon is a head of househ Note: Round your "Average rate" answer to 2 decimal places (for example XX.XX%). Marginal rate 2@ |% Average rate 2064 % 18 Brandon, an unmarried individual, has $196,400 taxable income. Assume the taxable year is 2024 Use Individual Tax Rate Schedules. 3.57 points Required: a. ldentify Brandon's statutory marginal rate and compute average tax rate assuming Brandon is a single taxpayer. b. Identify Brandon's statutory marginal rate and compute average tax rate assuming Brandon is a head of household. c. ldentify Brandon's statutory marginal rate and compute average tax rate assuming Brandon is a surviving spouse. 3 Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required A Required B Required [ Identify Brandon's statutory marginal rate and compute average tax rate assuming Brandon is a surviving spous Note: Round your "Average rate" answer to 2 decimal places (for example XX.XX%). Marginal rate 22 Q % Average rate 16.00 e % Required B
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