The following information relates to two married couples: Compute the 2016 tax due or refund due for
Question:
Compute the 2016 tax due or refund due for each couple. Assume that the itemized deductions have been reduced by the applicable floors. Ignore credits.
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Lanes Waynes Salary (earned by one spouse) Interest income Deductible IRA contribution Itemized deductions Exemptions Withholding $32,000 $115,000 1,000 15,000 15,000 8,100 700 8,100 18,700
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Related Book For
Federal Taxation 2017 Individuals
ISBN: 9780134420868
30th Edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
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