# Let’s summarize the information and calculate Beth Jordan’s 2021

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Let’s summarize the information and calculate Beth Jordan’s 2021 Federal income tax payable/refund due. Adjusted Gross Income (AGI): Wages: \$65,000.00 + Interest Income: \$1,300.00 + \$400.00 + Qualified Dividends: \$800.00 + \$750.00 + \$650.00 + Fees Earned from Part-Time Tax Practice: \$3,800.00 + Stock Transaction Gains (Losses): (500 shares * (\$14.00 – \$17.60)) + (100 shares * (\$55.00 – \$30. 00)) + Gain on Sale of Used Vehicle: \$6,500.00 – \$6,000.00 + Revenue from Software Development Business: \$16,000.00 = AGI: \$80,650.00 Deductions: Standard Deduction (Single): \$12,550.00 – Self-Employment Tax Deduction: (92.35% * (AGI – Wages – 0.5 * Self-Employment Tax)) = Total Deductions Taxable Income: AGI – Total Deductions = Taxable Income: \$59,517.00

What is the TAX for line 16 on the 2021 1040 tax form. Her Taxable income is 59517.00. I do not need the refund calculated I need to find the figure for line 16 on a 2021 1040 tax form.

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