Question

Molly earns a gross yearly salary of $166,403. She has no dependent children and made the following tax deductible purchases:

Charitable contributions: $8,192
Student loan interest: $761

When she files her taxes, what will her tax refund be?

Round your answer to the nearest dollar.

Use the following information:

Standard deduction for single filers: $12400

Biweekly allowance: $165.38 per person.

For your final answer proceed as:

Annual Income Tax Pay/Refund = Total Annual Withholding - Final Income Tax.

If the person has to pay the government, type the number with a negative sign. For example -1280.

If the person has to receive a refund from government, type the number without sign. For example 1280.

Answer 1