Question: Please solve this for me and fill the table. Show calculations 5. Use Tax Rate Schedules. Carson Wentz, of Phildelphia, determined the following tax information:

 Please solve this for me and fill the table. Show calculations

Please solve this for me and fill the table. Show calculations

5. Use Tax Rate Schedules. Carson Wentz, of Phildelphia, determined the following tax information: salary, $144,000; interest earned, $2,000; qualified retirement plan contribution, $6,000; itemized deductions, $10,000. Filing single, calculate Carson's taxable income and tax liability.

Wages, salaries, tips, etc.
Taxable interest (+)
Total income
Adjustments to income: IRA deduction (-)
Adjusted gross income
Standard deduction (2019) or itemized deductions (-)
Taxable income
Tax (use 2019 Tax Rate Schedules to calculate tax liability)

The tax is: of the amount over- Schedule X-If your filing status is Single If your taxable income is: But not Over- over- $9,700 9,700 39,475 39,475 84,200 84,200 160,725 160,725 204,100 204,100 510,300 510,300 10% $970.00 + 12% 4,543.00 +22% 14,382.50 +24% 32,748.50 + 32% 46,628.50 + 35% 153,798.50 +37% 9,700 39,475 84,200 160,725 204,100 510,300 over Schedule Y-1-If your filing status is Married filing jointly or Qualifying widow(er) If your taxable The tax is: income is: of the But not amount Over- over- $0 $19,400 ........ 10% 19,400 78,950 $1,940.00 + 12% 19,400 78,950 168,400 9,086.00 + 22% 78,950 168,400 321,450 28,765.00 +24% 168,400 321,450 408,200 65,497.00 + 32% 321,450 408,200 612,350 93,257.00 + 35% 408,200 612,350 164,709.50 +37% 612,350 of the amount over- 10% Schedule Y-2-If your filing status is Married filing separately If your taxable The tax is: income is: But not Over- over- $9,700 9,700 39,475 $970.00 + 12% 39,475 84,200 4,543.00 + 22% 84,200 160,725 14,382.50 +24% 160,725 204,100 32,748.50 + 32% 204,100 306,175 46,628.50 + 35% 306,175 82,354.75 + 37% 9,700 39,475 84,200 160,725 204,100 306,175

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