Question: Tim and Tammy will both be age 7 3 on their respective birthdays this year. They have been married for over 5 0 years and
Tim and Tammy will both be age on their respective birthdays this year. They have been married for over years and have greatly enjoyed their life together. They began taking Social Security benefits in at age and are living off their benefits and a small amount $ of municipal bond interest. They have been able to save money in an IRA which they have contributed to over the years. The balance at the end of was $ For purposes of this item set, assume the current year is and that the income tax rates and standard deduction remain unchanged from Assuming their combined Social Security benefits are $ in how much of their Social Security benefit is taxable? How much federal income tax do they have for Only consider their municipal bond income and their Social Security.
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