Question: Problem 3-39 (LO. 1, 2, 3, 4, 5, 6) Charlotte (age 40) is a surviving spouse and provides all of the support of he four
Problem 3-39 (LO. 1, 2, 3, 4, 5, 6) Charlotte (age 40) is a surviving spouse and provides all of the support of he four minor children (ages 4, 8, 11, and 14) who live with her. She also maintains the household in which her parents live and furnished 60% of thei support, Charlotte's father earned $2,400 from a part-time job and received $5,500 of municipal bond interest. Charlotte has a salary of $81,800, a short term capital loss of $2,000, a cash prize of $4,000 from a church raffle, and itemized deductions of $10,500. Click here to access the Components of the tax formula to use, if required. If an amount is zero, enter " $0". a. Compute Charlotte's taxable income. x b. Using the Tax Rate Schedules (click here), tax liability (before any allowable credits) for Charlotte is \$ x for 2023 . c. Compute Charlotte's child and dependent tax credit. Charlotte's child tax credit is \$ , of which \$ X may be refundable and her dependent tax credit is \$ of which \$ may be refundable. Problem 3-39 (LO. 1, 2, 3, 4, 5, 6) Charlotte (age 40) is a surviving spouse and provides all of the support of he four minor children (ages 4, 8, 11, and 14) who live with her. She also maintains the household in which her parents live and furnished 60% of thei support, Charlotte's father earned $2,400 from a part-time job and received $5,500 of municipal bond interest. Charlotte has a salary of $81,800, a short term capital loss of $2,000, a cash prize of $4,000 from a church raffle, and itemized deductions of $10,500. Click here to access the Components of the tax formula to use, if required. If an amount is zero, enter " $0". a. Compute Charlotte's taxable income. x b. Using the Tax Rate Schedules (click here), tax liability (before any allowable credits) for Charlotte is \$ x for 2023 . c. Compute Charlotte's child and dependent tax credit. Charlotte's child tax credit is \$ , of which \$ X may be refundable and her dependent tax credit is \$ of which \$ may be refundable
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