Tax Review ARE YOU READY???

Learsi and Joey are married, filing jointly. Their taxable income was $120,440 before deductions. They were able to reduce their total income by $25,381 using Schedule A. How much did they SAVE in tax by claiming these deductions? Round to nearest dollar.

Determine Tax for Single $97,642

• $13,492

• Answer not present

• $17,451

• $17,787

• $15,375

Tags

CCSS.8.F.B.4

CCSS.HSF.IF.B.6

Determine Tax for Head of Household $95,100

• $13,492

• Answer not present

• $17,451

• $17,787

• $15,399

Tags

CCSS.8.F.B.4

CCSS.HSF.IF.B.6

Determine Tax for Married filing jointly $99,999

• $13,492

• Answer not present

• $17,451

• $17,787

• $15,375

Tags

CCSS.8.F.B.4

CCSS.HSF.IF.B.6

Determine Tax for Married filing seperately $99,002

• $13,492

• Answer not present

• $17,451

• $17,787

• $15,375

Tags

CCSS.8.F.B.4

CCSS.HSF.IF.B.6

Nat's W-2 form reported total Medicare Wages as $88,340. She contributed $50 per week to her FSA and $90 per week to her retirement plan. She received a 1099 INT form from her savings account interest for $800 and a 1099 MISC for her royalties in the amount of $3700. What is Nat's adjusted gross income?

Tags

CCSS.7.NS.A.3

What is the tax for taxpayers filing jointly with a combined taxable income of $134,786? Round to the nearest cent.

Tags

CCSS.8.F.B.4

CCSS.HSF.IF.B.6

Mike has $22,000 in medical bills. His insurance pays 70% and he pays 30%. The IRS allows you to deduct any amount over 7.5% of your adjusted gross income. If Mike's AGI is $67,000, how much can he deduct on his taxes?

Tags

CCSS.8.EE.C.7B

Isaiah is a single taxpayer. His wages for the year are $66,200. The amount withheld for federal taxes was $9930. His bank interest is $1200. What is his adjusted gross income?

Luis is a single taxpayer. His wages for the year are $66,200. The amount withheld for federal taxes was $9930. His bank interest is $1200. If he chooses the standard deduction of $12,550, what is his taxable income?

Tags

CCSS.7.NS.A.1D