Robert is a single taxpayer who has AGI of $145,000 in 2018; his taxable income is $122,000.What is his federal tax liability for 2018?

Question

Quizplus · Accepted Answer

To calculate the federal tax liability for 2018, we need to find the tax bracket in which Robert's taxable income falls. Based on his taxable income of $122,000, he falls into the 28% tax bracket. The calculation of his tax liability is as follows:

(98,400 x 24%) + (23,600 x 28%) = $23,569.50

Therefore, the correct answer is C, $23,569.50.

Robert Is a Single Taxpayer Who Has AGI of $145,000