Mr. and Mrs. A had the following income items: _____________________________________________________________________ &nbs
Mr. and Mrs. A had the following income items:
_____________________________________________________________________
Salary 79,100
Interest income 1,300
_____________________________________________________________________
Compute their income tax on a joint return. They use married filing joint tax rates.
Homework Answers
| Salary | $ 79,100.00 |
| Interest Income | $ 1,300.00 |
| Adjusted Gross Income | $ 80,400.00 |
| Less: Standard Deduction | $ 24,400.00 |
| Taxable Income | $ 56,000.00 |
| Year 2019 Tax on Income (19,400 x 10% ) +(56000 - 19400)x 12% | $ 6,332.00 |
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Mr. and
Mrs. A had the following income items:
_____________________________________________________________________
&nbs
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Compute their combined tax if they choose to file separate
returns.
Compute their tax if they file a joint return.
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