2023 Tax Rate Schedules IndividualsSchedule X-Single If taxable income is over: But not...
90.2K
Verified Solution
Link Copied!
Question
Accounting
2023 Tax Rate Schedules
IndividualsSchedule X-Single
If taxable income is over:
But not over:
The tax is:
$ 0
$ 11,000
10% of taxable income
$ 11,000
$ 44,725
$1,100 plus 12% of the excess over $11,000
$ 44,725
$ 95,375
$5,147 plus 22% of the excess over $44,725
$ 95,375
$ 182,100
$16,290 plus 24% of the excess over $95,375
$ 182,100
$ 231,250
$37,104 plus 32% of the excess over $182,100
$ 231,250
$ 578,125
$52,832 plus 35% of the excess over $231,250
$ 578,125
$174,238.25 plus 37% of the excess over $578,125
Schedule Y-1-Married Filing Jointly or Qualifying surviving spouse
If taxable income is over:
But not over:
The tax is:
$ 0
$ 22,000
10% of taxable income
$ 22,000
$ 89,450
$2,200 plus 12% of the excess over $22,000
$ 89,450
$ 190,750
$10,294 plus 22% of the excess over $89,450
$ 190,750
$ 364,200
$32,580 plus 24% of the excess over $190,750
$ 364,200
$ 462,500
$74,208 plus 32% of the excess over $364,200
$ 462,500
$ 693,750
$105,664 plus 35% of the excess over $462,500
$ 693,750
$186,601.5 plus 37% of the excess over $693,750
Schedule Z-Head of Household
If taxable income is over:
But not over:
The tax is:
$ 0
$ 15,700
10% of taxable income
$ 15,700
$ 59,850
$1,570 plus 12% of the excess over $15,700
$ 59,850
$ 95,350
$6,868 plus 22% of the excess over $59,850
$ 95,350
$ 182,100
$14,678 plus 24% of the excess over $95,350
$ 182,100
$ 231,250
$35,498 plus 32% of the excess over $182,100
$ 231,250
$ 578,100
$51,226 plus 35% of the excess over $231,250
$ 578,100
$172,623.5 plus 37% of the excess over $578,100
Schedule Y-2-Married Filing Separately
If taxable income is over:
But not over:
The tax is:
$ 0
$ 11,000
10% of taxable income
$ 11,000
$ 44,725
$1,100 plus 12% of the excess over $11,000
$ 44,725
$ 95,375
$5,147 plus 22% of the excess over $44,725
$ 95,375
$ 182,100
$16,290 plus 24% of the excess over $95,375
$ 182,100
$ 231,250
$37,104 plus 32% of the excess over $182,100
$ 231,250
$ 346,875
$52,832 plus 35% of the excess over $231,250
$ 346,875
$93,300.75 plus 37% of the excess over $346,875
Answer for B please
Required information [The following information applies to the questions displayed below.] Matt and Meg Comer are married and file a joint tax return. They do not have any children. Matt works as a history professor at a local university and earns a salary of $68,100. Meg works part time at the same university. She earns $44,900 a year. The couple does not itemize deductions. Other than salary, the Comers' only other source of income is from the disposition of various capital assets (mostly stocks). (Use the tax rate schedules, Dividends and Capital Gains Tax Rates.) Note: Round your final answers to the nearest whole dollar amount. a. What is the Comers' tax liability for 2023 if they report the following capital gains and losses for the year? Required information [The following information applies to the questions displayed below.] Matt and Meg Comer are married and file a joint tax return. They do not have any children. Matt works as a history professor at a local university and earns a salary of $68,100. Meg works part time at the same university. She earns $44,900 a year. The couple does not itemize deductions. Other than salary, the Comers' only other source of income is from the disposition of various capital assets (mostly stocks). (Use the Dividends and Capital Gains Tax Rates.) Note: Round your final answers to the nearest whole dollar amount
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!