Whitney received $75,000 of taxable income in 2022. All of the income was salary from...

60.1K

Verified Solution

Question

Accounting

Whitney received $75,000 of taxable income in 2022. All of the income was salary from her employer. What is her income tax liability in each of the following alternative situations? Use Tax Rate Schedule for reference.

Note: Do not round intermediate calculations.

Required:

She files under the single filing status.

She files a joint tax return with her spouse. Together their taxable income is $75,000.

She is married but files a separate tax return. Her taxable income is $75,000.

She files as a head of household.

2022 Tax Rate Schedules

Individuals

Schedule X-Single

If taxable income is over: But not over: The tax is:
$ 0 $ 10,275 10% of taxable income
$ 10,275 $ 41,775 $1,027.50 plus 12% of the excess over $10,275
$ 41,775 $ 89,075 $4,807.50 plus 22% of the excess over $41,775
$ 89,075 $ 170,050 $15,213.50 plus 24% of the excess over $89,075
$ 170,050 $ 215,950 $34,647.50 plus 32% of the excess over $170,050
$ 215,950 $ 539,900 $49,335.50 plus 35% of the excess over $215,950
$ 539,900 $162,718 plus 37% of the excess over $539,900

Schedule Y-1-Married Filing Jointly or Qualifying Widow(er)

If taxable income is over: But not over: The tax is:
$ 0 $ 20,550 10% of taxable income
$ 20,550 $ 83,550 $2,055 plus 12% of the excess over $20,550
$ 83,550 $ 178,150 $9,615 plus 22% of the excess over $83,550
$ 178,150 $ 340,100 $30,427 plus 24% of the excess over $178,150
$ 340,100 $ 431,900 $69,295 plus 32% of the excess over $340,100
$ 431,900 $ 647,850 $98,671 plus 35% of the excess over $431,900
$ 647,850 $174,253.50 plus 37% of the excess over $647,850

Schedule Z-Head of Household

If taxable income is over: But not over: The tax is:
$ 0 $ 14,650 10% of taxable income
$ 14,650 $ 55,900 $1,465 plus 12% of the excess over $14,650
$ 55,900 $ 89,050 $6,415 plus 22% of the excess over $55,900
$ 89,050 $ 170,050 $13,708 plus 24% of the excess over $89,050
$ 170,050 $ 215,950 $33,148 plus 32% of the excess over $170,050
$ 215,950 $ 539,900 $47,836 plus 35% of the excess over $215,950
$ 539,900 $161,218.50 plus 37% of the excess over $539,900

Schedule Y-2-Married Filing Separately

If taxable income is over: But not over: The tax is:
$ 0 $ 10,275 10% of taxable income
$ 10,275 $ 41,775 $1,027.50 plus 12% of the excess over $10,275
$ 41,775 $ 89,075 $4,807.50 plus 22% of the excess over $41,775
$ 89,075 $ 170,050 $15,213.50 plus 24% of the excess over $89,075
$ 170,050 $ 215,950 $34,647.50 plus 32% of the excess over $170,050
$ 215,950 $ 323,925 $49,335.50 plus 35% of the excess over $215,950
$ 323,925 $87,126.75 plus 37% of the excess over $323,925

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