Manny, a single taxpayer, earns $68,200 per year in taxable income and an additional $12,320 per...

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Manny, a single taxpayer, earns $68,200 per year in taxable income and an additional $12,320 per year in city of Boston bonds

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Answer 1

Answer #1

Manny is in the tax bracket $40,126 to $85,525 which is taxed at 22%

Manny will be in the same tax bracket for $17,325 additional income(85,525-68200) and $28,074 additional deductions (68200-40126)

Manny's current marginal tax rate for 2020 = 22%

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Answer 2

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Manny, a single taxpayer, earns $68,200 per year in taxable income and an additional $12,320 per...

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Manny, a single taxpayer, earns $68,200 per year in taxable income and an additional $12,320 per...