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2. You meet that special person and get married you do, $47,810 If your tax status is now married-filing jointiy, what is your tax liability? Explain how you calculated this. (Remember, your income as a couple is double your individual income.) 6 points: 3 for the correct answer, 3 for the supporting explanation) Amazingly, your spouse has EXACTLY the same income 5/
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Answer #1

1) Calculation of tax: No. Particulars Amount ($) 95,620 (47810+47810) 1 Gross Income 2 For AGI deductions 3 Adjusted gross income 4 Standard deduction 5 Itemized deduction 6 Greater of standard deduction or itemized deduction 7 Personal exemption 8 Taxable income (3-6-7) 9 Income tax liability 95,620 12,700 12,700 8,100 4050* 2) 74,820 10,291 |[(74820-18650)*15% +1865 10 Tax withholding 11 Tax liability (9-10) 10,291

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