Question

Benjamin Addai determined the following tax information: gross salary, $87,000; interest earned, $80; deductible IRA contribution, $1,050; personal exemption, $3,950; and itemized deductions, $6,200. Calculate Benjamin's taxable income and taxable liability filing single.

Answer 1

Benjamin Addai determined the following tax information: gross salary, $41,000; interest earned, $80; deductible IRA contribution, $1,075; personal exemption, $3,950; and itemized deductions, $6,200. Calculate Benjamin’s taxable income and tax liability filing single.