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Get your taxes done using TurboTax
That depends on whether the 14,900 is gross income or taxable income. If the 14,900 is gross income then at a minimum 12,400 is deducted as the standard deduction leaving 2,500 taxable income. The tax rate on that figure is 10% so according to the tax tables the tax would be $251.
Your tax return could also include other credits or deductions that would make that tax even lower.
If the 14,900 is taxable income then the tax rate is 10% on the first $9875 and 12% on the rest. So according to the tax tables the tax would be $1594. Again there could be credits that might reduce that tax even more.
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March 4, 2021
5:56 AM