Sally and Jim are married and have taxable income in 2016 of $160,000. If they could file

Question:

Sally and Jim are married and have taxable income in 2016 of $160,000. If they could file their income tax as single individuals, each of them would have taxable income of $80,000. Do they have a marriage penalty when they file their joint return? If so, what is the amount of the penalty?
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Taxation For Decision Makers 2017

ISBN: 9781119330417

7th Edition

Authors: Shirley Dennis Escoffier, Karen Fortin

Question Posted: