Gabriella and Steve have adjusted gross incomes of $48,800 and $33,000, respecti
ID: 3046358 • Letter: G
Question
Gabriella and Steve have adjusted gross incomes of $48,800 and $33,000, respectively. Assume that each person takes one exemption and the standard deduction. Answer parts (a) through (c) below. Tax Rate Single ointy 15%up to $36.250 up to $72,500 25% up to $87,850 up to $146,400 Standard Deduction$6100 Exemptions$3900 $12,200 $3900 a. Calculate the tax owed by the couple if they delay their marriage until next year so they can each file a tax return at the single tax rate this year. The couple owes $ (Simplify your answer. Round to the nearest dollar as needed.)Explanation / Answer
separetly
Gabriella = 8925 * 0.10 + 0.15 (36250 - 8925) + 0.25 (48800 - 36250)
= 8128.75
Steve = 8925 * 0.10 + 0.15 (36250 - 33000)
= 1380
total tax as seperate = 8128.75+ 1380 = 9508.75
total income of couple = 48800 + 33000 = 81800
tax as couple
8925 * 0.10 + 0.15 (36250 - 8925) + 0.25 (81800- 36250)
= 16378.75
tax owed by the couple
16378.75 - 9508.75 = 6870
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