Samuel, Head of Household with Two Dependents, Has 2012 Wages

question 65

Essay

Samuel, head of household with two dependents, has 2012 wages of $26,000, paid alimony of $3,000, has taxable interest income of $2,000, and a $12,000 0%/15% net long-term capital gain. Samuel uses the standard deduction and is age 38. What is his 2012 taxable income and the tax on the taxable income?

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Definitions:

Homo Neanderthalensis

An extinct species of archaic humans that lived in Eurasia until about 40,000 years ago, known for their robust build and large cranial capacity.

Homo Erectus

An extinct species of early human that lived throughout much of the Pleistocene geological epoch, known for its upright walking ability.

Neurons

Unique cells within the nervous system responsible for transferring information to other neural cells, muscular cells, or glands.

Cerebellum

A region of the brain that plays an essential role in motor control, coordination, precision, and timing of movements.