How much is her federal income tax

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Question - Emma is single with no dependents and had the following for 2014:

Wages from union job $75,000

Loss from scale of stock held 4 years -$-2,000

Qualifying dividends $3,000

Exemption deduction $3,950

Itemzied deductions $14,900

A. How much is emmas taxable income?
A. 57150
B. 60150
C. 58150
D. 76000

B. How much is emmas ordinary income for calculating her capital gains tax for 2014?
A. 56150
B. 76000
C. 54150
D. 57150

C. Assuming emmas ordinary income is $36,900 and her taxable income is $56,900, how much is her federal income tax for 2014?
A. 8535
B. 10154
C. 5154
D. 8154

Reference no: EM132080499

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