Ask Question
2 July, 22:17

Madison's gross tax liability is $9,000. Madison had $3,000 of tax credits available and she had $8,000 of taxes withheld by her employer. What is Madison's taxes due (or taxes refunded) with her tax return? $0 taxes due and $0 tax refund. $6,000 taxes due. $2,000 tax refund. $1,000 taxes due. None of the choices are correct.

+2
Answers (1)
  1. 3 July, 01:07
    0
    correct option is $2,000 tax refund

    Explanation:

    given data

    gross tax liability = $9,000

    tax credits = $3,000

    taxes withheld = $8,000

    solution

    we get here taxes due with tax return that is express as

    tax refund = Gross tax liability - tax credits - taxes withheld ... 1

    put here value we will get tax refund

    tax refund = $9,000 - $3,000 - $8,000

    tax refund = $2,000

    so correct option is $2,000 tax refund
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Madison's gross tax liability is $9,000. Madison had $3,000 of tax credits available and she had $8,000 of taxes withheld by her employer. ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers