Question

analyzing a federal income tax return based on real - world scenarios
a single taxpayer with no dependents has an annual total income of $50,000. the taxpayer has utilized deductions totaling $12,550 (standard deduction for a single filer). what is the amount that will be used to calculate the total tax from the tax brackets?
$62,550 $37,450 $50,000
$12,550

Explanation:

Step1: Identify adjusted gross income

Annual total income = $\$50,000$

Step2: Subtract standard deduction

Taxable income = Total income - Deductions
$\$50,000 - \$12,550 = \$37,450$

Answer:

$\$37,450$