Abraham is a single taxpayer with no dependents. He received $297 in bank interest and $1,500 for a educational expenses deduction. His charitable contributions were $2,000. Use the information to complete the table below: Wages, tips, and other compensation: $47,513; Social Security Wages: $47,513; Medicare wages: $47,513; Federal tax withheld: $4,325; State tax withheld: $2,790. Assume $3,500 per exemption and use the tax rate for the income interval for $32,550 to $78,850 of $4,481.25 + 25% for taxable income over $32,550.
Total itemized deductions$Interest$Adjusted gross income$Taxable income$Tax due$Tax owed$
What will be an ideal response?
| Total itemized deductions | $6,290 |
| Interest | $297 |
| Adjusted gross income | $41,223 |
| Taxable income | $37,723 |
| Tax due | $5,774.50 |
| Tax owed | $1,449.50 |
Adjusted gross income: 47,513
6,290 Taxable income: 41,223
3,500 Tax due: 4,481.25 + 0.25(37,723
32,550)Tax owed: 5,774.50
4,325
Mathematics
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