Question

URGENT MEDAL AWARD
You are single and employed full-time as a manager. You have no children. Your gross income is $49,500.

You contributed $1,800 to an IRA account. You paid $2,985 in home mortgage interest. You made $750 in charitable donations. You spent $2,700 in non-reimbursed medical expenses beyond the 7.5% of adjusted gross income.

Answer 1

You are single and employed full-time as a manager. You have no children. Your gross income is $49,500.

You contributed $1,800 to an IRA account. You paid $2,985 in home mortgage interest. You made $750 in charitable donations. You spent $2,700 in non-reimbursed medical expenses beyond the 7.5% of adjusted gross income.

Number of Allowances Federal Withholding
0 $7,682.48
1 $6,757.40
2 $5,832.58

Answer 2

A. Enter “1” for yourself if no one else can claim you as a dependent A. ________
B. Enter “1” if
• You are single and have only one job; or
• You are married, have only one job, and your spouse does not work; or
• Your wages from a second job or your spouse’s wages (or the total of both) are $1,500 or less. B. ________
C. Enter “1” for your spouse. But, you may choose to enter “-0-“ if you are married and have either a working spouse or more than one job. (Entering “-0-“ may help you avoid having too little tax withheld.) C. ________
D. Enter number of dependents (other than your spouse or yourself) you will claim on your tax return. D. ________
E. Add lines A through D and enter total here. This is the total number of allowances you may claim.* E. ________

Answer 3

@mebs

Answer 4

@ivettef365

Answer 5

@NoelGreco please help

Answer 6

I don't see what the question is.

Based on the info you'd have 2 allowances

Answer 7

how do you know that its 2 allowances? @NoelGreco

Answer 8

because the 1st thing i need to figure out is how many and how to find it?

Answer 9

After determining the number of allowances you will claim, find out how much federal income tax will be withheld from your paycheck for the year. First, find the scenario you were given. Then, use the chart to determine your withholdings based on your chosen allowances. @NoelGreco

Answer 10

A and B are both a 1. A because nobody else can claim me as a dependent, and B because I'm single and have only one job.

Answer 11

Alright thanks @NoelGreco