Question

a taxpayer filing as married filing separately has no other deductions or credits aside from the standard deduction. their financial information for the tax year 2023 is shown.
w-2 income: $30, 000
taxable interest (1099-int): $150
federal income tax withheld: $2, 000
standard deduction for 2023: $12, 950
what amount should the taxpayer enter on line 15 (taxable income) on the 1040 form?

Explanation:

Step1: Calculate total income

Add W-2 income and taxable interest.
$\$30,000 + \$150 = \$30,150$

Step2: Subtract standard deduction

Deduct the 2023 standard deduction for married filing separately from total income.
$\$30,150 - \$12,950 = \$17,200$

Answer:

$\$17,200$