What is the tax liability for a single individual who has taxable income of $115,500,that includes a taxable qualified dividend of $2,000? All answers should be rounded to the nearest dollar.

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First, we need to determine the individual's taxable income after deductions. Assuming a standard deduction of $12,000, the taxable income would be $103,500 ($115,500 - $12,000).

Using the 2019 tax tables for single filers, the tax liability on $103,500 is $24,402.

Next, we need to calculate the tax liability on the qualified dividend of $2,000. The tax rate on qualified dividends for an individual in the 24% tax bracket is 15%. Therefore, the tax on the $2,000 dividend is $300 ($2,000 x 15%).

Adding the two tax liabilities together, we get a total tax liability of $24,702. Rounded to the nearest dollar, the answer is D) $25,062.

What Is the Tax Liability for a Single Individual Who