Samuel, Head of Household with Two Dependents, Has 2017 Wages

question 17

Essay

Samuel, head of household with two dependents, has 2017 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 2017 taxable income and the tax on the taxable income?

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Definitions:

Arthur Conan Doyle

A British writer best known for creating the fictional detective Sherlock Holmes, a seminal figure in crime fiction.

Ship's Log Book

An official record book maintained on board ships, noting important events, navigational data, and management details of voyages.

Ship's Log Book

A record book used on ships to detail voyages, including locations visited, weather conditions, and daily occurrences.

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A group of nine volcanic islands in the North Atlantic Ocean, known for their dramatic landscapes, fishing villages, green pastures, and blue hydrangeas.