In February of 2019, Mara and Luke were married. During 2020, Mara received $40,000 of compensation...
In February of 2019, Mara and Luke were married. During 2020, Mara received $40,000 of compensation from her employer and had $6,000 withheld while Luke received $30,000 of compensation from his employer and had $4,800 withheld. The couple together reported $2,000 of itemized deductions. Mara and Luke filed separately in 2020. What is Mara's tax due or refund for 2020?
Homework Answers
| Amount $ | ||
| Mara' Gross Income | 40,000 | |
| Less: Standard Deduction | 12,400 | |
| Taxable Income | 27,600 | |
| Tax liability | 3,114.50 | =987.5+((27600-9875)*12%) |
| Less: Tax withheld | 6,000.00 | |
| Tax due or ( Refund ) | -2,885.50 | |
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In February of 2019, Mara and Luke were married. During 2020,
Mara received $40,000 of compensation...
In February of 2019, Mara and Luke were married. During 2020, Mara received $40,000 of compensation...
In February of 2019, Mara and Luke were married. During 2020, Mara received $40,000 of compensation from her employer and had $6,000 withheld while Luke received $30,000 of compensation from his employer and had $4,800 withheld. The couple together reported $2,000 of itemized deductions. Mara and Luke filed separately in 2020. What is Mara's tax due or refund for 2020? Tax Due or Refund (label which it is) The Mandalorians filed jointly in 2020. Their AGI is $120,000. They reported...
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