Answer:
Step-by-step explanation:
Assuming the given amounts are within the range of the 28% tax bracket for the relevant tax year, the taxable income in that bracket would be the correct answer. Please refer to the specific tax brackets for the applicable year to get accurate information
✰Answer:
C. $171,550.
✰Step-by-step explanation:
According to the table below, the Single filing status in the 28% federal income tax bracket has the following tax rates for different ranges of taxable income:
Taxable Income Range: Tax Rate:
$0 - $9,875 10%
$9,876 - $40,125 12%
$40,126 - $85,525 22%
$85,526 - $163,300 24%
$163,301 - $207,350 32%
$207,351 - $518,400 35%
$518,401 or more 37%
To determine which of the given taxable incomes is possible for a taxpayer in the Single filing status in the 28% federal income tax bracket, we need to find the taxable income range that corresponds to a 28% tax rate.
From the table, we can see that the 28% tax rate falls between the taxable income ranges of $85,526 - $163,300 (24%) and $163,301 - $207,350 (32%).
Therefore, a possible taxable income for a taxpayer in the Single filing status in the 28% federal income tax bracket could be any value within the range of $85,526 to $163,300.
So, the correct answer would be option C. $171,550.
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