I:2-41 Marriage and Taxes. Bill and Mary plan to marry in December 2022. Bills salary is $112,000

Question:

I:2-41 Marriage and Taxes. Bill and Mary plan to marry in December 2022. Bill’s salary is

$112,000 and he owns his residence. His itemized deductions total $21,700. Mary’s salary is

$94,000. Her itemized deductions total only $11,800 as she does not own her residence.

a. What will their 2022 tax be if they marry before year-end and file a joint return?

b. What will their combined 2022 taxes be if they delay the marriage until 2023?

c. What factors contribute to the difference in taxes?

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Pearsons Federal Taxation Corporations Partnerships Estates And Trust 2023

ISBN: 9780137730391

36th Edition

Authors: KENNETH E. ANDERSON, DAVID S. HULSE, TIMOTHY J. RUPERT Richard J. Joseph LeAnn Luna

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Question Posted: Jul 18, 2024 10:12 AM

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I:2-41 Marriage and Taxes. Bill and Mary plan to marry in December 2022. Bills salary is $112,000

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Pearsons Federal Taxation Corporations Partnerships Estates And Trust 2023

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