Mr. Rogers, an unmarried individual, had the following income items: Salary $ 519,600 Interest income 24,200 Dividend eligible for 20% rate. 46,000 Mr. Rogers had $35,500 itemized deductions and four dependent children (ages 5 through 15). Required: Compute his income tax (before credits). Assume the taxable year is 2021. Use Individual Tax Rate Schedules and Standard Deduction Table. (Round your intermediate calculations and final answers to the nearest whole dollar amount.) AGI Taxable income Income tax Amount $ 589,800

Mr. Rogers, an unmarried individual, had the following income items: Salary $ 519,600 Interest income 24,200 Dividend eligible for 20% rate. 46,000 Mr. Rogers had $35,500 itemized deductions and four dependent children (ages 5 through 15). Required: Compute his income tax (before credits). Assume the taxable year is 2021. Use Individual Tax Rate Schedules and Standard Deduction Table. (Round your intermediate calculations and final answers to the nearest whole dollar amount.) AGI Taxable income Income tax Amount $ 589,800

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter8: Taxation Of Individuals

Section: Chapter Questions

Problem 26P

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