The following information relates to two married couples: Compute the 2015 tax due or refund due for
Question:
The following information relates to two married couples: 
Compute the 2015 tax due or refund due for each couple. Assume that the itemized deductions have been reduced by the applicable floors. Ignore credits.
Transcribed Image Text:
Lanes $32,000 1,000 5,000 15,000 8,000 700 Waynes Salary (earned by one spouse) $115,000 Interest income 10,000 Deductible IRA contribution 15,000 8,000 18,700 ltemized deductions Exemptions Withholding
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Related Book For
Federal Taxation 2016 Comprehensive
ISBN: 9780134104379
29th Edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
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