Mr. Ms salary was $177,000, and Mrs. Ms salary was $114,000. They had no other income items,
Question:
a. Compute their tax on a joint return.
b. Compute their combined tax if they file separate returns (married filing separately).
c. Compute their marriage penalty (excess of tax on a joint return over combined tax on two returns filed as single taxpayers).
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a Mr and Mrs Ms AGI 291000 Standard deduction 12600 Exemption amount 4000 x 2 8000 Taxable income 27...View the full answer
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Related Book For
Principles Of Taxation For Business And Investment Planning 2016 Edition
ISBN: 9781259549250
19th Edition
Authors: Sally Jones, Shelley Rhoades Catanach
Question Posted:
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