Mathematics, 13.09.2021 01:20 king6757
Buck and Georgia are married and file a joint return for 2021. They have wage income of $150,000; net long-term capital gains of $25,000; net short-term capital gains of $8,000; corporate bond interest of $4,000; share of S corporation income of $10,000; cash distributions from the S corporation of $3,500; ordinary cash dividends of $5,250; qualifying cash dividends of $7,000; inheritance received from deceased aunt’s estate of $50,000; deductions for AGI (Adjusted Gross Income) of $11,000; itemized deductions of $26,500; tax credits of $2,500; and estimated tax payments and withholding of $23,000. Their applicable standard deduction is $25,100. Using the appropriate tax schedule, compute their tax due or refund. [Note – you must show and label all calculations, including the AGI, Taxable Income, and Tax Liability amounts.] Plz use excel for answer! Thank you :)
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Buck and Georgia are married and file a joint return for 2021. They have wage income of $150,000; ne...
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