Please help Jaki Taggart determine her tax liability based on the following: sal
ID: 3420868 • Letter: P
Question
Please help Jaki Taggart determine her tax liability based on the following: salary, $58,250; wages, $37,010; capital gains, $14,580; $2,000 IRA contribution; mortgage interest, $7,250; property taxes, $4,260; charitable contributions, $520. She files as head of household and claims two exemptions.
Please help Jaki Taggart determine her tax liability based on the following: salary, $58,250; wages, $37,010; capital gains, $14,580; $2,000 IRA contribution; mortgage interest, $7,250; property taxes, $4,260; charitable contributions, $520. She files as head of household and claims two exemptions.
Explanation / Answer
$58,250-$37,010+$14,580-$2000+$7250-$4260 = 36810