Compute maria adjusted gross income

Assignment Help Accounting Basics

Reference no: EM133252200

Question - Maria is single but has two dependent children, ages 4 and 7. Her salary from her job is $65,000, with no other earnings. Maria's itemized deductions totaled $18,000. Federal income tax withholdings from her paychecks totaled $6,000. Maria paid $800 in student loan interest. She has no daycare expenses since her parents take care of her children while she works, and she does not qualify for the earned income credit.

Required -

1. Compute Maria's adjusted gross income.

2. Compute Maria's taxable income.

3. Compute Maria's tax liability.

4. Compute Maria's refund due or tax owed.

Reference no: EM133252200

Questions Cloud

Discuss income effects-substitution effects : 1. Discuss how each of the following events affects the number of hours the individual would like to work (increase/decrease/unclear/no change).

How did the industrial revolution create new forms : How did the industrial revolution create new forms of freedom for some workers while restricting some freedoms for other workers?

Discuss the meaning of freedom in reconstruction for former : Discuss the meaning of freedom in Reconstruction for former slaves. How was their freedom infringed upon by former planters or Southern Democrats?

Address to congress leading to the declaration of wwi : AMH 2020 Miami Dade College, Address to Congress leading to the declaration of WWI- Did America remain neutral in "thought and deed" from 1914 to 1917? Discuss

Compute maria adjusted gross income : Maria is single but has two dependent children, ages 4 and 7. Her salary from her job is $65,000, Compute Maria adjusted gross income

Discuss the social justice and equity issues : Discuss the social justice and equity issues related to the treatment of Curtis Flowers from a criminal and civil law perspective.

How did this land hunger shape the lives of diverse women : HISTORY 213 American Military University How did this land hunger shape the lives of diverse women in the Chesapeake colonies. Consider the effects on Natives,

What is meant by normal goods : What happens to Price and Quantity When Supply & Demand Shifts ? Provide factual examples of determinants that causes demand & supply to shift (change).

Opening a distribution centre in christchurch : Knauf Group is the second largest supplier of plasterboard in the world. The firm had entered the NZ market in 2013 via a 50:50 joint-venture with Boral (USG Bo

User Account

All Pages