Betty unmarried age 70 received a pension of 50000 and, Financial Accounting

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Betty unmarried age 70 received a pension of 50000 and

Betty, unmarried, age 70, received a pension of $50,000, and Interest from P&G bonds of $20,000. She also received Social Security benefits of 10,000. Her itemized deductions total $9,000. She takes care of her unmarried sister Barbara, who is disabled, who lives with her, and whose only income is $6,000 of Social Security. Betty pays > ½ the cost of the home where they live

1. What is Betty’s Filing Status?

2. What is Betty’s Adjusted Gross Income?

3. What is Betty’s taxable Income?

4. How much tax will Betty pay?

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Financial Accounting: Betty unmarried age 70 received a pension of 50000 and

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Financial Accounting: Betty unmarried age 70 received a pension of 50000 and

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