Problem 3-42 (Algorithmic) (LO. 5, 6, 9)

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Preston and Anna are engaged and plan to get married. During 2023, Preston is a full-time student and earns $6,700 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 $79,200.

If an amount is zero, enter, "0". Do not round your intermediate computations. Round your final answer to nearest whole dollar. a. Compute the following:

	Preston Filing Single		Anna Filing Single
Gross income and AGI	$		$
Standard deduction (single)
Taxable income	$		$
Income tax	$		$

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b. Assume that Preston and Anna get married in 2023 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 and AGI	$
Standard deduction (married, filing jointly)
Taxable income	$
Income tax	$

c. How much income tax can Preston and Anna save if they get married in 2023 and file a joint return? $