Question: Problem 3 - 3 8 ( Algorithmic ) ( LO . 5 , 6 , 8 ) Question Content Area Preston and Anna are engaged

Problem 3-38(Algorithmic)(LO.5,6,8)
Question Content Area
Preston and Anna are engaged and plan to get married. During 2024, Preston is a full-time student and earns $8,500 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 has wages of $80,520.
Click here to access the standard deduction table to use. Click here to access the Tax Rate Schedules. If an amount is zero, enter "0". Do not round your intermediate computations. Round your final answer to the nearest whole dollar.
a.Compute the following:
Preston
Filing SingleAnna
Filing SingleGross income and AGI$fill in the blank 9b8d4f08201dfae_1$fill in the blank 9b8d4f08201dfae_2Standard deduction (single)fill in the blank 9b8d4f08201dfae_3fill in the blank 9b8d4f08201dfae_4Taxable income$fill in the blank 9b8d4f08201dfae_5$fill in the blank 9b8d4f08201dfae_6Income tax$fill in the blank 9b8d4f08201dfae_7$fill in the blank 9b8d4f08201dfae_8
Question Content Area
b.Assume that Preston and Anna get married in 2024 and file a joint return. What is their taxable income and income tax? Round your final answer to the nearest whole dollar.
Married
Filing JointlyGross income and AGI$fill in the blank 9e828ffdcfd5f9f_1Standard deduction (married, filing jointly)fill in the blank 9e828ffdcfd5f9f_2Taxable income$fill in the blank 9e828ffdcfd5f9f_3Income tax$fill in the blank 9e828ffdcfd5f9f_4
c.How much income tax can Preston and Anna save if they get married in 2024 and file a joint return?
$fill in the blank 9e828ffdcfd5f9f_5

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