Question

You are single, your AGI is $60,000 as you get no extra income, and you have one exemption of $8200. Find your taxable income and your tax due from the table.

Answer 1

9621

Answer 2

is that the taxable income or the tax due?o:

Answer 3

The government will take a percent of the money you earn. They can't touch the money you save.
The government want's to take 'whatever' percent of 60,000 but they can't tax 8200 because it's exempt. So they tax 60000-8200=51800.
You have to pay $9621 to the government, because you are single, and made at least (not less than) $51800.

Answer 4

okay thank you!c: