In 2019, a single taxpayer has taxable income of $125,000. What is their total tax? Show your work. See below for 2022 tax brackets.
TABLE 4-1
Marginal Tax Rates, 2019
Schedule X: 2019 Tax Rate Schedule for Single Filers
If your taxable income is:
Over: But not more than: You will owe:
$0 $9,700 10% of $0
$9,700 $39,475 $970 + 12% of $9,700
$39,475 $84,200 $4,543 + 22% of $39,475
$84,200 $160,725 $14,383 + 24% of $84,200
$160,725 $204,100 $32,749 + 32% of $160,725
$204,100 $510,300 $46,629 + 35% of $204,100
Schedule Y-1: 2019 Tax Rate Schedule for Married Filing Jointly
If your taxable income is:
Over: But not more than: You will owe:
$0 $19,400 10% of $0
$19,400 $78,950 $1,940 + 12% of $19,400
$78,950 $168,400 $9,086 + 22% of $78,950
$168,400 $321,450 $28,765 + 24% of $168,400
$321,450 $408,200 $65,497 + 32% of $321,450
$408,200 $612,350 $93,257 + 35% of $408,200