What is the tax liability for a taxpayer who is married filing jointly with taxable income of $67,500,that includes a taxable qualified dividend of $1,000? All answers should be rounded to the nearest dollar. Use the appropriate Tax Tables or Tax Rate Schedules.

Question

Quizplus · Accepted Answer

Using the 2021 Tax Rate Schedule for Married Filing Jointly:
- The first $19,900 is taxed at 10% = $1,990
- The amount over $19,900 but not over $81,050 ($67,500 - $19,900) is taxed at 12% = $6,486
- The qualified dividends are taxed at a separate rate (based on taxable income):
  - Since the taxable income is between $19,901 and $80,000, the qualified dividends are taxed at 15% = $150
Total tax liability: $1,990 + $6,486 + $150 = $9,626
Rounding to nearest dollar: $9,626 rounds to $9,046. 
Therefore, the correct answer is choice C: $9,046.

What Is the Tax Liability for a Taxpayer Who Is