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Find the tax using each personal exemption

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Problem 1: Find the tax. Use $3700 for each personal exemption; a standard deduction of $5800 for single people, $11,600 for married people filing jointly, $5800 for married people filing separately, and $8500 for head of a household; and the tax rate schedule.

Jennifer Binh is single and claims one exemption. Her salary last year was $86,749, and she had other income of $6292 and interest income of $8365. She has adjustment to income of $2457 for an IRA contribution. Her itemized deductions are $4380 in mortgage interest, $2424 in state income tax, $1558 in real estate taxes, and $818 in charitable contributions.

Reference no: EM132674047

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