Use the 2016 marginal tax rates to compute the income tax owed by the following person....

Transcribed Image Text:

Use the 2016 marginal tax rates to compute the income tax owed by the following person. Unmarried head of household with two dependent children. Gross income: $48,000 Adjustments: none Deductions: $3144 state taxes S3000 theft loss Tax credit: $1000 Click the icon to view the 2016 marginal tax rates. The income tax owed is $ (Type an integer or a decimal. Round to the nearest cent as needed.) re: 0 of 1 pt 5 of 5 (5 complete) HW Score: 80%, 4 c 8.2.17 Question Help the 2016 marginal tax rates to compute the income tax owed by the following person. arried h 2016 Marginal Tax Rates 2016 Marginal Tax Rates, Standard Deductions, and Exemptions Unmarried, divorced, Married and each partner or legally separated files a separate tax return partners file a single more than half the cost Married and both Unmarried and paying Click the tax return of supporting a child or parent Head of Household ncome Tax Rate Single Married Filing Separately Married Filing Jointly an inte 10% up to $9275 up to $18,550 $18,551 to $75,300 up to $9275 up to $13,250 15% $9276 to $37,650 $37,651 to $91,150 $9276 to $37,650 $37,651 to $75,950 $75,951 to $115,725 $13,251 to $50,400 25% $75,301 to $151,900 $50,401 to $130,150 $151,901 to $231,450 $130,151 to $210,800 $231,451 to $413,350 $210,801 to $413,350 $413,351 to $466,950 $413,351 to $441,000 28% $91,151 to $190,150 33% $190,151 to $413,350 $115,726 to $206,675 35% $413,351 to $415,050 $206,676 to $233,475 39.6% more than $415,050 more than $233,475 more than $466,950 more than $441,000 Standard $6300 $6300 $12,600 $9300 Deduction Exemptions (per person) $4050 $4050 $4050 $4050 Print Done our answer in the answer box and then click Check Answer, ts showing Clear All Check Andwer Use the 2016 marginal tax rates to compute the income tax owed by the following person. Unmarried head of household with two dependent children. Gross income: $48,000 Adjustments: none Deductions: $3144 state taxes S3000 theft loss Tax credit: $1000 Click the icon to view the 2016 marginal tax rates. The income tax owed is $ (Type an integer or a decimal. Round to the nearest cent as needed.) re: 0 of 1 pt 5 of 5 (5 complete) HW Score: 80%, 4 c 8.2.17 Question Help the 2016 marginal tax rates to compute the income tax owed by the following person. arried h 2016 Marginal Tax Rates 2016 Marginal Tax Rates, Standard Deductions, and Exemptions Unmarried, divorced, Married and each partner or legally separated files a separate tax return partners file a single more than half the cost Married and both Unmarried and paying Click the tax return of supporting a child or parent Head of Household ncome Tax Rate Single Married Filing Separately Married Filing Jointly an inte 10% up to $9275 up to $18,550 $18,551 to $75,300 up to $9275 up to $13,250 15% $9276 to $37,650 $37,651 to $91,150 $9276 to $37,650 $37,651 to $75,950 $75,951 to $115,725 $13,251 to $50,400 25% $75,301 to $151,900 $50,401 to $130,150 $151,901 to $231,450 $130,151 to $210,800 $231,451 to $413,350 $210,801 to $413,350 $413,351 to $466,950 $413,351 to $441,000 28% $91,151 to $190,150 33% $190,151 to $413,350 $115,726 to $206,675 35% $413,351 to $415,050 $206,676 to $233,475 39.6% more than $415,050 more than $233,475 more than $466,950 more than $441,000 Standard $6300 $6300 $12,600 $9300 Deduction Exemptions (per person) $4050 $4050 $4050 $4050 Print Done our answer in the answer box and then click Check Answer, ts showing Clear All Check Andwer

Answer rating: 100% (QA)

Gross income 48000 Less Deduction state taxes 3144 Less Deduction Theft los... View the full answer