Susanne and David are married and not self-employed. Susanne pays $7,180.09 in Social Security tax, and contributes $22,500 to a 401(k) plan through her employer. David pays $2,204.55 in Medicare tax and contributes 12% of his salary to a 403(b) plan through his employer. Susanne and David have the following adjustments to their combined taxable income. - Bank interest earned: $205.10 - Stock dividends received: $1560.24 - Capital gain from stock sale: $2598.36 - Prize income (they won a vacation): $9140.00 - Profit from real estate sale: $143,600.

 Calculate Susanne and David's federal income tax due.

Answer rating: 100% (QA)

To calculate Susanne and Davids federal income tax due we need to go through several steps involving calculating their gross income adjusted gross inc... View the full answer