Marc, a single taxpayer, earns $60,000 in taxable income and $5,000 in interest from an investment in city of Birmingham Bonds. Using the U.S. tax rate schedule for year 2018, what is his current marginal tax rate? (Use tax rate schedule)
A) 12.00%
B) 22.00%
C) 24.00%
D) 32.00%
E) None of the choices are correct

Question

Marc, a single taxpayer, earns $60,000 in taxable income and $5,000 in interest from an investment in city of Birmingham Bonds. Using the U.S. tax rate schedule for year 2018, what is his current marginal tax rate? (Use tax rate schedule) 
A) 12.00%
B) 22.00%
C) 24.00%
D) 32.00%
E) None of the choices are correct

Quizplus · Accepted Answer

See 2018 IRS rate schedule for single taxpayers.

Marc, a Single Taxpayer, Earns $60,000 in Taxable Income and $5,000