Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. chapter 4 problem: assume that maria gonzalez was

Chapter 4 Problem: Assume that Maria Gonzalez was 36 years old when she filed her...

60.1K

Verified Solution

Question

Accounting

image
Chapter 4 Problem: Assume that Maria Gonzalez was 36 years old when she filed her 2022 Iax return. She has 2 kids ages 5 &12 years old who she claimed as dependents on her tax return. Also, her W2 wages were $60,000, $5,000 was received from unemployment income and her federal withholdings were $5,200. She also donated $10,500 to her needy friends and gave $12,000 to her church as tithes. Also, her sales tax was $569. Assume that her tax from the IRS tax table was $5.182. Based on the following facts above, What is Maria's? 1. Filing Status 2. Total income S 3. Adjusted Gross Income (AGI) \$ 4. Standard Deduction 5. Total Itemized Deduction $ 6. Taxable income $ 7. Child Tax Credit (CTC) \$ 8. Tax Refund S 9. Tax owed, if any $ HINT: Use the 1040 form \& schedule 1, Individual Income Tax formula, the chapter textbook content, "My Notes" and the PowerPoint slides as references if needed. Also, see the 2022 IRS Standard Deductions on line 12 of the 1040 or you can google it

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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

An all-equity firm with 200,000 shares outstanding, Antwerther Inc., has $2,000,000 of EBIT, which is expected...

Finance
Q

1. A shipping company offers various sized shipping boxes to its customers. Some of these boxes...

Basic Math
Q

Discuss the differences between primary source and secondary source of repayment for commercial clients of commercial...

Finance
Q

A 35.00mL sample of aqueous lactic acid(HC3H5CO3) is titrated to the equivalence point with 65.00mL of...

Chemistry
Q

The sales and marketing section offers a detailed explanation of your sales strategy, pricing plan, proposed...

General Management
Q

cometry Exam 3 Part 2 the figure at right Sketch the vector indicated The vectors...

Geometry
Q

1 What is the value of x if sin 60 cos x 10

Geometry
Q

A die is rolled twice What is the probability that a n 1 is rolled...

Statistics
Q

One of your clients owns a farm that has been experiencing losses. Should your client...

Accounting
Q

On January 1, a materials analyst is asked to determine the number of bags of...

Accounting
Q

The comparative balance sheets presented below (in simplified form) are available for Simple Company. During...

Accounting
Q

Financial institutions hold a portfolio comprising the following securities: 100 million bonds with duration 4...

Finance