Sarah is single. She files her tax return as Single. Her
2020 income from wages is...
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Sarah is single. She files her tax return as Single. Her2020 income from wages is $450,400. She has “net long-term capitalgains” of $100,000. Total 2020 gross income is $550,400. Sarah isunder 65 years of age and does not itemize her deductions. What isSarah’s total federal income tax?
A)$112,829.75
B)$128,095.50.
C) $147,922.50
D) $149,701
please show work thank you
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14792250 is the correct alternative Explanation Gross Income including long term capital gain 550400 Less Standard deduction 12400 Net taxable income including net long term capital gain 538000 Net taxable long term capital gain 100000 So taxable regular income 538000 100000 438000 Calculation for tax liability on
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