meredith48034
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NO LINKS!! Please help me with these questions. Part 3cc

3. Loretta is a single mom with two kids. On 2009, her gross income was $61,840. She filed her taxes as Head of Household and claimed herself and her 2 children. Using the tables above, find Loretta's taxable income.

4. Mike and Lisa are a married couple with 2 kids. On 2009, they made $79,480. They filed jointly. Find Mike and Lisa's taxable income. ​

NO LINKS Please help me with these questions Part 3cc3 Loretta is a single mom with two kids On 2009 her gross income was 61840 She filed her taxes as Head of H class=


Answer :

semsee45

Answer:

3.  $42,540

4.  $53,480

Step-by-step explanation:

Question 3

Income

Gross income = $61,840

Allowances

Head of household (2009) = $8,350

Single with 2 dependents = $3,650 + $3,650 · (2) = $10,950

Total allowances = $8,350 + $10,950 = $19,300

Taxable Income

Gross income - total allowances = $61,840 - $19,300 = $42,540

Question 4

Income

Gross income = $79,480

Allowances

Married filing jointly (2009) = $11,400

Married with 2 dependents = $7,300 + $3,650 · (2) = $14,600

Total allowances = $11,400+ $14,600 = $26,000

Taxable Income

Gross income - total allowances = $79,480 - $26,000 = $53,480

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