Bill and Mary plan to marry in December 2022. Bills salary is $112,000 and he owns his
Question:
Bill and Mary plan to marry in December 2022. Bill’s salary is $112,000 and he owns his residence. His itemized deductions total $21,700. Mary’s salary is $94,000. Her itemized deductions total only $11,800 as she does not own her residence.
a. What will their 2022 tax be if they marry before year-end and file a joint return?
b. What will their combined 2022 taxes be if they delay the marriage until 2023?
c. What factors contribute to the difference in taxes?
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a Adjusted gross income 112000 94000 206000 Minus Itemized deductions 21700 11800 33500 Taxable inco...View the full answer
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Related Book For 
Pearsons Federal Taxation 2023 Comprehensive
ISBN: 9780137840656
36th Edition
Authors: Timothy J. Rupert, Kenneth E. Anderson, David S Hulse
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