Question: Problem 9 - 2 4 ( Algorithmic ) ( LO . 4 , 5 ) Question Content Area David and Ruby are engaged and plan

Problem 9-24(Algorithmic)(LO.4,5)
Question Content Area
David and Ruby are engaged and plan to get married. During 2022, David 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, Ruby is employed and has wages of $85,800.
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 nearest whole dollar.
a. Compute the following:
David
Filing Single Ruby
Filing Single
Gross income and AGI $fill in the blank 200fddf57fbf063_1
9,400
$fill in the blank 200fddf57fbf063_2
85,800
Standard deduction (single) fill in the blank 200fddf57fbf063_3
12,950
fill in the blank 200fddf57fbf063_4
12,950
Taxable income $fill in the blank 200fddf57fbf063_5
0
$fill in the blank 200fddf57fbf063_6
72,850
Income tax $fill in the blank 200fddf57fbf063_7
0
$fill in the blank 200fddf57fbf063_8
Feedback Area
Feedback
If married individuals elect to file separate returns, each reports only their own income, exemptions, deductions, and credits, and each must use the Tax Rate Schedule applicable to married taxpayers filing separately. It is generally advantageous for married individuals to file a joint return, because the combined amount of tax is lower.
Question Content Area
b. Assume that David and Ruby get married in 2022 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 $fill in the blank 13de030aef9c041_1
Standard deduction (married, filing jointly) fill in the blank 13de030aef9c041_2
Taxable income $fill in the blank 13de030aef9c041_3
Income tax $fill in the blank 13de030aef9c041_4
c. How much income tax can David and Ruby save if they get married in 2022 and file a joint return?
$fill in the blank 13de030aef9c041_5

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!