Determine taxable income and regular tax before credits


Question: Laureen is an unmarried? taxpayer, filing head of household. She has two dependent children? (7-year-old twins) who lived with her all year. Her 2022 earned income was $ 19 comma 700?, her AGI was $ 23 comma 800?, and she uses the standard deduction. View the standard deduction and personal and dependency exemption amounts.LOADING... View the 2022 tax rate schedule.LOADING... View the earned income credit table.LOADING... Read the requirement.LOADING... Question content area bottom Part 1 1. Determine her taxable income and regular tax before credits. Adjusted gross income 23800 Minus: Standard deduction 12950 Taxable income 10850 Part 2 Laureen's regular tax before credits = 1085 Part 3 2. Determine her earned income credit? (EIC). Begin by determining Laureen?'s tentative earned income credit? (before phaseout). Laureen's tentative earned income credit (before phaseout) = 6164

 

 

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Accounting Basics: Determine taxable income and regular tax before credits
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