Preston and Anna are engaged and plan to get married. During 2020, Preston is a full-time student and earns $9,400 from a part-time job. With this income, student loans, savings, and nontaxable scholarships, he is self-supporting. For the year, Anna is employed and reports $79,000 in wages.

 

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b. Assume that Preston and Anna get married in 2016 and file a joint return. What is their taxable income and income tax? Round your final answer to nearest whole dollar. Married Filing Jointly Gross income $ Standard deduction Personal exemptions Taxable income Income tax c. How much Federal income tax can Preston and Anna save if they get married in 2016 and file a joint return? b. Assume that Preston and Anna get married in 2016 and file a joint return. What is their taxable income and income tax? Round your final answer to nearest whole dollar. Married Filing Jointly Gross income $ Standard deduction Personal exemptions Taxable income Income tax c. How much Federal income tax can Preston and Anna save if they get married in 2016 and file a joint return?

Answer rating: 100% (QA)

Particulars Preston Filing single Anna Filing single Gr... View the full answer