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Calculate the Total income and Total deductions

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Reference no: EM133073829

Question - Jim Simpson has gathered the following information for his 2020 federal tax return:

 

Amount ($)

Earnings from wages

49,500.00

Interest earned from GIC

125.00

Eligible dividend income

200.00

RRSP deduction

2,500.00

Savings account interest

75.00

Child care deduction

6,700.00

Union Dues

480.00

Total non-refundable tax credit amounts

13,800.00

Federal income tax deducted at source

7,168.00

Filing status - head of household

Required - Calculate the Total income, Total deductions, Taxable income, Federal tax liability, Average federal tax rate and Refund amount.

Reference no: EM133073829

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