Answers to Common Tax Questions

How to Calculate Adjusted Gross Income

1.Your W-2 form reports that your total wages were $35,539 for 2018.  Your W-2 form also reports that $4,053 was withheld from your wages for federal income tax.  You receive a 1099-INT from your bank that indicated interest earned of $281.  You are single, under the age of 65, not blind and not claimed by any other person as a dependent. How much is your adjusted gross income?

2.Your W-2 form reports that your total wages were $35,539 for 2018.  Your W-2 form also reports that $4,053 was withheld from your wages for federal income tax.  You receive a 1099-INT from your bank that indicated interest earned of $281.  You are single, under the age of 65, not blind and not claimed by any other person as a dependent. How much is your taxable income?

3.Your W-2 form reports that your total wages were $35,539 for 2018.  Your W-2 form also reports that $4,053 was withheld from your wages for federal income tax.  You receive a 1099-INT from your bank that indicated interest earned of $281.  You are single, under the age of 65, not blind and not claimed by any other person as a dependent. What is your total tax for the year?

4.Your W-2 form reports that your total wages were $35,539 for 2018.  Your W-2 form also reports that $4,053 was withheld from your wages for federal income tax.  You receive a 1099-INT from your bank that indicated interest earned of $281.  You are single, under the age of 65, not blind and not claimed by any other person as a dependent.

What is the amount of your payment or refund?  (Be sure to first state "refund" or "payment" and then the dollar amount as a whole number)

5)Your W-2 form reports that your total wages were $35,539 for 2018.  Your W-2 form     also reports that $4,053 was withheld from your wages for federal income tax.  You receive a 1099-INT from your bank that indicated interest earned of $281.  You are single, under the age of 65, not blind and not claimed by any other person as a dependent. What tax bracket does this person fall into?

6)  Your W-2 form reports that your total wages were $37,450 for 2018.  Your W-2 form also reports that $4,178 was withheld from your wages for federal income tax.  You receive a 1099-INT from your bank that indicated interest earned of $316.  You are single, under the age of 65, not blind and not claimed by any other person as a dependent.

How to Calculate Taxable Income

How much is your adjusted gross income?

(whole number, no comma or dollar sign)

7) Your W-2 form reports that your total wages were $37,450 for 2018.  Your W-2 form also reports that $4,178 was withheld from your wages for federal income tax.  You receive a 1099 INT from your bank that indicated interest earned of $316.  You are single, under the age of 65, not blind and not claimed by any other person as a dependent.

How much is your taxable income?

(whole number, no comma, no dollar sign)

8)  Your W-2 form reports that your total wages were $37,450 for 2018.  Your W-2 form also reports that $4,178 was withheld from your wages for federal income tax.  You receive a 1099-INT from your bank that indicated interest earned of $316.  You are single, under the age of 65, not blind and not claimed by any other person as a dependent.

What is your total tax for the year?

(whole number, no comma, no dollar sign)

9) Your W-2 form reports that your total wages were $37,450 for 2018.  Your W-2 form also reports that $4,178 was withheld from your wages for federal income tax.  You receive a 1099-INT from your bank that indicated interest earned of $316.  You are single, under the age of 65, not blind and not claimed by any other person as a dependent.

What is the amount of your payment or refund?  (type "refund" or "payment" before the dollar amount)

10) Your W-2 form reports that your total wages were $37,450 for 2018.  Your W-2 form also reports that $4,178 was withheld from your wages for federal income tax.  You receive a 1099-INT from your bank that indicated interest earned of $316.  You are single, under the age of 65, not blind and not claimed by any other person as a dependent.

What is your tax as a percent of taxable income?  (go out 2 decimal places - you must use "%" for your answer to be correct otherwise it's just a number and will be marked wrong)

11) Your W-2 form reports that your total wages were $85,000 for 2018.  Your W-2 form also reports that $10,266 was withheld from your wages for federal income tax.  You receive a 1099-INT from your bank that indicated interest earned of $1,203.  You are married and will be filing as "married filing jointly". 

How much is your adjusted gross income?   (whole number, no comma, no dollar sign)

12) Your W-2 form reports that your total wages were $85,000 for 2018.  Your W-2 form also reports that $10,266 was withheld from your wages for federal income tax.  You receive a 1099-INT from your bank that indicated interest earned of $1,203.  You are married and will be filing as "married filing jointly".  How much is your taxable income?   (whole number, no comma, no dollar sign)

13)  Your W-2 form reports that your total wages were $85,000 for 2018.  Your W-2 form also reports that $10,266 was withheld from your wages for federal income tax.  You receive a 1099-INT from your bank that indicated interest earned of $1,203.  You are married and will be filing as "married filing jointly". 

What is your total tax for the year?

(whole number, no comma, no dollar sign)

14) Your W-2 form reports that your total wages were $85,000 for 2018.  Your W-2 form also reports that $10,266 was withheld from your wages for federal income tax.  You receive a 1099-INT from your bank that indicated interest earned of $1,203.  You are married and will be filing as "married filing jointly". 

What is the amount of your payment or refund? (place "refund" or "payment" before the dollar answer)

(whole number, no comma, no dollar sign)

15)  Your W-2 form reports that your total wages were $85,000 for 2018.  Your W-2 form also reports that $10,266 was withheld from your wages for federal income tax.  You receive a 1099-INT from your bank that indicated interest earned of $1,203.  You are married and will be filing as "married filing jointly". 

What is your tax as a percentage of your taxable income? (go out 2 decimal places - you must use "%" for your answer to be correct otherwise it's just a number and will be marked wrong)

16)  Your W-2 form reports that your total wages were $85,000 for 2018.  Your W-2 form also reports that $10,266 was withheld from your wages for federal income tax.  You receive a 1099-INT from your bank that indicated interest earned of $1,203.  You are married and will be filing as "married filing jointly". 

What is your tax bracket?