Problem $1-11$

The Tax Formula for Individuals, Filing Status and Tax Computation, Qualifying Dependents, The Standard Deduction $($LO $1\mathrm{.}3,1\mathrm{.}5,1\mathrm{.}6,1\mathrm{.}7)$

Jackson, age $35,$ and Peggy, age $34,$ are married and file a joint income tax return for $2023.$ Their salaries for the year total $$86,700$ and they have dividend income of $$3,800.$ They have no deductions for adjusted gross income. Their itemized deductions are $$27,000.$ Jackson and Peggy do not have any dependents.

Table for the standard deduction

$\backslash$table$[[$Filing Status,Standard Deduction$],[$Single$,$$$13,850$