Input Data: 1. Record ID 402.00 2. Tax Year 2024.00 3. State Code 16.00 IA 4. Marital Status 2.00 5. Age of primary taxpayer 57.00 54.00 6. Dependent Exemptions 0.00 8. Number of Dependents 0.00 9. Wage and salary income of primary taxpayer 714.48 104761.91 10. Self-employment income of primary taxpayer 0.00 11. Dividend Income 0.00 12. Interest Received 3669.40 13. Short Term Gains 0.00 14. Long Term Gains 0.00 15. Other Property 0.00 16. Other Non-Property 0.00 17. Taxable Pensions 140751.06 18. Gross Social Security 0.00 19. Tot/Txpy/Spouse UI 0.00 20. Non-taxable Transfers 0.00 21. Rent Paid 0.00 22. Property Taxes Paid 0.00 23. Other Itemized Deds 0.00 24. Child Care Expenses 0.00 25. Mortgage Interest 0.00 26. S-Corp profits 0.00 27. Primary and secondary Taxpayer's active QBI 0.00 28. Primary and secondary taxpayer's Specialized Service Trade or Business service 0.00 Basic Output: FICA (OADSI and HI, sum of employee AND employer including Additional Medicare Tax) 0.0 Federal IIT Liability 39052.24 Record ID 402.0 State (SOI code) 16 IA State IIT Liability 7889.67 Year 2024 Marginal Rates wrt Weighted Average Earnings: Taxpayer liability for FICA 8068.94 Federal Tax Calculation: AMT Liability after credit for regular tax and other allowed credits 0.0 Child Care Credit 0.0 Child Tax Credit 0.0 Earned Income Credit 0.0 FICA 8068.94 Federal AGI 249896.84 Federal Income Tax Before Credits 39052.24 Federal Regular Tax 39052.24 Federal Taxable Income 220696.84 Income for the Alternative Minimum Tax 249896.84 Itemized Deductions in taxable income 0.0 Net Investment Income Tax 0.0 Personal Exemptions 0.0 QBI deduction 0.0 Social Security in AGI 0.0 UI in AGI 0.0 Zero Bracket Amount / Standard Deduction 29200.0 State Tax Calculation: 32. AGI 150321.31 34. Standard Deduction 29200.0 35. Itemized Deductions 0.0 36. Taxable Income 150321.31 37. Property Tax Credit 0.0 38. Child Care Credit 0.0 39. EIC 0.0 40. Total Credits 80.0 Child Tax Credit 0.0 Tax before credits 0.0 TCJA 2018+: 42. Earned Self-Employment Income for FICA 0.0 Additional Medicare Taxes 2013+: Medicare Tax on Unearned Income 0.0 Decomposition of Federal Marginal Rate (taxpayer earned income) Regular Income Tax: Cares Recovery Rebates 0.0