my work mode : This shows what is correct or incorrect for the work you have com

Question

my work mode : This shows what is correct or incorrect for the work you have completed so for. It does not indicate completion. File Return to question Ms. G earned a $102.750 salary. and Mr. H earned a $202.400 salary. Neither individual had any other income, and nelther can itemize deductions. Assume the taxable year is 2017. Use Individual Tax Rate Schedules and Standard Deduction Table a. Compute Ms. G and Mr. H's combined tax if they file as single individuals b. Compute Ms. G and Mr. H's tax if they are married and file a joint return. 3 Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Compute Ms. G and Mr. H's combined tax if they file as single individuals. (Round your intermediate calculations and final answers to the nearest whole dollar amount.) Ms G's Taxs Mr. H's Tax Combined tax $ 216,024 19,974 $ 196,050 Required B > Prev 10124 Next >

Explanation / Answer

1. Ms. G amd Mr. H's combined tax if they file as single individuals Ms. G's Salary $102,750 Less: Standard Deduction ($6,350)            Personal Exemption ($4,050) Taxable Income $92,350 Income tax $18,839.75 Mr. H's Salary $202,400 Less: Standard Deduction ($6,350)            Personal Exemption ($4,050) Taxable Income $192,000 Income tax $46,759.25 Combined Tax $65,599.00 2. Ms. G amd Mr. H's tax if they are married and file a joint return Ms. G's Salary $102,750 Mr. H's Salary $202,400 Less: Standard Deduction ($12,700)            Personal Exemption ($8,100) Taxable Income $284,350 Income tax $69,052.50 Working Note Income tax calculation Ms. G Taxable income $92,350.00 Income tax on income upto $91,900 $18,713.75 From $91,900 - $92,350(450 x 28%) $126.00 Tax $18,839.75 Mr. H Taxable income $192,000.00 Income tax on income upto $191,650 $46,643.75 From $191,650 - $192,000(350 x 33%) $115.50 Tax $46,759.25 Married filing jointly Taxable Income $284,350.00 Income tax on income upto $233,350 $52,222.50 From $233,350 - $284,350(51000 x 33%) $16,830.00 Tax $69,052.50

Related Questions

Navigate

• Browse (All)
• Browse M
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.