Benjamin, who files as a single taxpayer, has $359,900 taxable income in 2018. Compute his regular tax liability.

Question

Quizplus · Accepted Answer

Using the 2018 tax brackets and tax rate schedules, the regular tax liability for a single filer with taxable income of $359,900 would be calculated as follows:

- $9,525 taxed at 10% = $952.50
- $29,175 taxed at 12% = $3,501
- $44,100 taxed at 22% = $9,702
- $82,500 taxed at 24% = $19,800
- $114,100 taxed at 32% = $36,512
- $80,500 taxed at 35% = $28,175
- $9,000 taxed at 37% = $3,330

Total regular tax liability = $101,970, which is closest to option A, $101,655.

Benjamin, Who Files as a Single Taxpayer, Has $359,900 Taxable