Use this information to complete the quiz. Tax Formula Gross…
Use this information to complete the quiz. Tax Formula Gross Income– Adjustments (from AGI)Adjusted Gross Income (1)– Deductions (from-AGI) Taxable Income (2)x Tax Rate(s) Tax Liability (3)– Tax Credits Taxes Due/(Refund) (4) 2018 Federal Income Tax Brackets (10%–24%) Marginal Tax Rate Taxable Income (over x but less than y) Single Taxable Income (over x but less than y) Married Filing Jointly 10% $0 / $9,525 $0 / $19,050 12% $9,526 / $38,700 $19,051 / $77,400 22% $38,701 / $82,500 $77,401 / $165,000 24% $82,501 / $157,500 $165,001 / $315,000 Standard Deduction $12,000 $24,000