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Calculate what taxes are owed

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Question 1: Debbie is single and 45. She has no children. She owns a house and has interest payments this year totaling $15,000. She has state taxes of $2500 and her income is $65,000. She also donate $500 worth of items to Goodwill. What taxes would Debbie owe for 2018?

Question 2: Calculate what taxes are owed. Dean and Mary have one child. Their combined income is $93,000. They don't have any real major exemptions and are renting a home. What would be the tax owed for them in 2018 filing jointly (remember the standard deduction from the 2018 Tax Changes and then the child credit).

Reference no: EM132487124

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