What is william tax liability without the ancg

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Reference no: EM132086224

Question: William is single and has no dependents. Without considering his $18,000 adjusted net capital gain (ANC) his taxable income, which includes no investment income, in 2016 as follows:

A. What is William's tax liability without the ANCG? (Do not round intermediary calculations. Enter the amount you input in the cell to the nearest cent.

B. What is William's tax liability with the ANCG?

Data Table

AGI $247,000

Home morgage interest $22,500

State and Local income taxes $8,600

Charitable contributions $6,700

Personal Examption $4,050

Taxable Income $205,150

Reference no: EM132086224

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