Question
1.) Based on the following data, will Ann and Carl Wilton receive a federal tax refund or owe additional taxes in 2016? (Input the amount
1.) Based on the following data, will Ann and Carl Wilton receive a federal tax refund or owe additional taxes in 2016? (Input the amount as a positive value. Round your intermediate calculations and final answer to 2 decimal places. Omit the "$" sign in your response.) Taxable Income Tax Rate $0$45,282 15% $45,282$90,563 20.5% $90,563$140,388 26% $140,388$200,000 29% Net income $ 49,650 Deductions to determine net income $ 11,870 Federal income tax withheld $ 7,009 Total non-refundable tax credit amounts, excluding medical expenses $ 10,334 Medical expenses $ 2,800 (Click to select) $
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