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Sharon Jones is single. During 2019, she had a gross income of $159,800, deductions for AGI of $5,500, itemized deductions of $14,000 and tax credits of $2,000. Sharon had $22,000 withheld by their employer for federal income tax.
She has a tax ______ (due/refund) of $______ .

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elijahjoseph1

Answer: She has a tax due of $ 8,355.25

Explanation:

Firstly, subtract all deductions from her gross income.

So, 159,800 - 5500 (for AGI) - 10,000 (itemized deductions) - 4000 (exemption) = 140,300 as taxable income.

Therefore, Tax due = $32,355.25 - $2000 (tax credits) - $22,000 (prepayments) = $8,355.25

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