The total federal income tax owed by brad on his dividend


Brad is single and 50 years old. In 2016, he was employed by Technoparts, Inc. Brad’s W-2 salary information for 2016 is as follows. Gross salary: $70,000; Federal income tax withholding: $10,000; FICA tax withholding: $4,500; State income tax withholding: $1,200. Brad is divorced and supports two children living with him from a previous marriage. The children are Bill and Bonnie. During 2016, Brad received $8,000 cash alimony and $5,000 cash child support from his former spouse. Information concerning Brad’s children living with him: Bill, single, age 21, earned $3,500 income on a part time job in 2016. He was not enrolled as a student during 2016. In 2016, Bonnie, age 16, a junior at the local high school, earned $5,000 from a part time job. In addition to the above amounts, Brad’s 2016 income included the following: Qualified dividend income from U.S. corporations $6,000 Interest income from Lanyard Corporation bonds 1,000 Interest income from State of Kansas bonds 2,000 2016 expenses paid by Brad include the following: Mortgage interest expense on primary residence $2,000 Property tax on primary residence 3,000.

The total federal income tax owed by Brad on his dividend income is ______________.

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Financial Management: The total federal income tax owed by brad on his dividend
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