Answer
The income tax owed by a single female is \[\$8655\].
Work Step by Step
The adjusted gross income will be:
\[\begin{align}
& \text{Adjusted}\ \text{Gross}\ \text{Income}=\ \text{Gross}\ \text{Income}-\text{Adjustments} \\
& =\ \$70,000-\$2,000\\&=\$68,000\end{align}\]
The taxable income is the amount of income used to calculate how much tax an individual owes to the government in a given tax year.
Then, the taxable income will be:
\[\begin{align}
& \text{Taxable}\ \text{Income}=\ \text{Adjusted}\ \text{Gross}\ \text{Income}-\left( \text{Exemptions}+\text{Deductions} \right) \\
& =\ \$68,000-\left(\$3,800+\$10,000+\$2,500+\$1,200\right)\\&=\$50,500\end{align}\]
For the single person, tax rate is \[10%\]up to\[\$8700\],\[15%\] from \[\$8701\] to \[\$35350\], and \[25%\] from \[\$35351\] to \[\$85650\].
Then, the tax computation will be:
\[\begin{align}
& \text{Tax computation}=\ 0.10\left( \$8700\right)+0.15\left(\$5350-\$8700\right)+0.25\left(\$50500-\$35350\right)\\&=\$8655\end{align}\]
So, the income tax will be:
\[\begin{align}
& \text{Income tax}=\text{Tax computation}-\text{Tax credits} \\
& =\$8655-\$0\\&=\$8655\end{align}\]
Therefore, the income tax owed by a single female is \[\$8655\].
