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Problem 1-8 The Tax Formula for Individuals, Filing Status and Tax Computation, Personal and Dependency...

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Accounting

Problem 1-8 The Tax Formula for Individuals, Filing Status and Tax Computation, Personal and Dependency Exemptions (LO 1.3, 1.5, 1.7)

Jonathan is a 35-year-old single taxpayer with adjusted gross income in 2019 of $46,300. He uses the standard deduction and has no dependents.

Table for the standard deduction

Filing Status Standard Deduction
Single $ 12,200
Married, filing jointly 24,400
Married, filing separately 12,200
Head of household 18,350
Qualifying widow(er) 24,400

Click here to access the tax tables.

a. Calculate Jonathan's taxable income. $

b. When you calculate Jonathan's tax liability are you required to use the tax tables or the tax rate schedule?

c. What is Jonathan's tax liability? $

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