Latoya is an accountant who also works as a part-time museum tour guide. Information from her
tax worksheet includes wages from the accounting job, $85,290.45; wages from the museum
job, $12,670.34; interest, $563.99; and dividends, $234.67. What is Latoya’s total income?

(a)  

Drew is single with a taxable income for last year of $83,472. His employer withheld $16,998
in federal taxes. Use the tax tables in the textbook to determine Drew's tax liability.

(a)  

Mike and Lisa Lerner had combined wages of $91,301 last year. They also had a bank interest of
$792 and $667. They received stock dividends of $287 and $530. During the year, Lisa won a
$1,000 prize. Find the total income from wages, bank interest, dividends, and the prize.

(a)  

Paul and Mary had $78,111.19 in income from their jobs and their bank interest. They also had
$2,139 worth of student loan interest, and Paul paid $6,000 in alimony. These two expenses are
deductions from income. Find their adjusted gross income. Round to the nearest dollar.

(a)  

Jessica Filipowitz filed as a Single taxpayer and had a taxable income of $77,989. Then she
learned that $876 of her student loan interest was tax deductible, so revised her Form 1040.
Using the tax tables from your textbook, find out how much the student loan deduction
saved her on her tax liability.

(a)  

Tai is filing his Form 1040, and his filing status is single. His AGI is $87,651. Rather than use the standard deduction this year, Tai is using tax avoidance and legal deductions to lower his taxable income. He used Schedule 1 and Schedule A to list $21,751 worth of deductions. He also had a Child Care Tax Credit of $1,211. What is his tax liability?

(a)  

The Pasquales gave $987 to different charities. The highest amount they gave to any single charity was $100. They also donated $450 worth of old clothes to different charities. The highest value of items they gave to any single charity was $120. Find the total of their charitable contributions.

(a)  

2. Meghan paid $9,212 for medical insurance and also had $5,700 in medical expenses last year. Her medical insurance covered 80% of these expenses. The IRS allows medical and dental expenses deductions for the amount that exceeds 7.5% of a taxpayer’s adjusted gross income. If Meghan’s adjusted gross income is $65,432, how much can she claim as a medical deduction? Round to the nearest dollar.

Vito is single. His total income before deductions was $97,760. He was able to reduce his total income by $14,198 when he filled out Schedule A and Schedule 1. How much did he save in tax by using these two schedules?

(a)