Samuel,head of Household with Two Dependents,has 2016 Wages of $26,000,paid

question 56

Essay

Samuel,head of household with two dependents,has 2016 wages of $26,000,paid alimony of $3,000,has taxable interest income of $2,000,and a $12,000 0%/15%/20% net long-term capital gain.Samuel uses the standard deduction and is age 38.What is his 2016 taxable income and the tax on the taxable income?

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Definitions:

Rental Agreement

A contract between a landlord and tenant that outlines the terms and conditions of the property rental.

Duty

A moral or legal obligation to ensure the well-being or safety of others, or to adhere to a standard of conduct.

Careful

Careful describes the act of being cautious, meticulous, or taking pains to avoid mistakes or accidents in one's actions or decisions.

First Nations

Indigenous peoples in Canada who are neither Inuit nor Métis, often recognized as the original inhabitants of the land.