There are two distinct situations Situation A Situation B Status, No children Single Single Wage Income 60,000 200,000 Medical Cost paid 4,100 4 200 State Income tax paid 2,580 8,300 Property taxes paid 0 7,700 Mortgage interest 0 11,900 Charitable Contributions 940 2,140 a What is the 2021 tax owe...

Sep121 1421 Answer is highlighted in yellow Can be rounded to 2 decimal or nearest dollar S ...

There are two distinct situations: Situation A Situation B Status, No children Single Single Wage Income 60,000

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There are two distinct situations:

	Situation A	Situation B
Status, No children	Single	Single
Wage Income	60,000	200,000
Medical Cost paid	4,100	4.200
State Income tax paid	2,580	8,300
Property taxes paid	0	7,700
Mortgage interest	0	11,900
Charitable Contributions	940	2,140

a. What is the 2021 tax owed for the following taxpayer for each situation?

b. For each situation, how much did the taxpayer save in taxes due to making the charitable contribution?

c. For each situation, what is the tax rate based on?

Taxable income (tax owed over tax able income)

Marginal rate (marginal rate)

Posted Date: Sep 13, 2021 09:30 PM

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There are two distinct situations: Situation A Situation B Status, No children Single Single Wage Income 60,000

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