In 1518, use the 2012 marginal tax rates in Table 8.1 on page 501 to calculate the

Chapter 8, Problem 16

(choose chapter or problem)

In Exercises 15 – 18, use the 2012 marginal tax rates in Table 8.1 on page 501 to calculate the income tax owed by each person.

Single female, no dependents

Gross income: $70,000

Adjustments: $2000

Deductions:

$10,000 mortgage interest

$2500 property taxes

$1200 charitable contributions

Tax credit: none

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