Emily, age 38 and married, has decided to file a separate return for the tax...

80.2K

Verified Solution

Question

Accounting

Emily, age 38 and married, has decided to file a separate return for the tax year 2020. Her wages from her job are expected to be $240,000. In addition, her interest income from the savings account and dividends from the CDs at the credit union is expected to total $7,600. Her spouse will not itemize deductions. If she takes the standard deduction, has no adjustments to income, and claims no dependents, what would her projected federal income tax be for tax year 2020?

a)$57,185

b)$53,486

c)$41,631

d)$57,1152.

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!
Become a Member

Other questions asked by students