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4 Mr. and Mrs. Ludwig have the following income items: 56 aints Dividend eligible for 0% preferential rate Capital gain eligible for os preferential rate
4 Mr. and Mrs. Ludwig have the following income items: 56 aints Dividend eligible for 0% preferential rate Capital gain eligible for os preferential rate Mrs. Ludwig's salary $ 4,400 3,900 44,575 Mt. Ludwig is age 66 and Mrs. Ludwig is age 68. Their itemized deductions totaled $8,390, and they have no dependents. Required: Compute their income tax on a joint return. Assume the taxable year is 2020. Use Individual Tax Rate Schedules and Standard Deduction Table (Round your intermediate calculations and final answers to the nearest whole dollar amount.) Answer is complete but not entirely correct. AGI Taxable income Income tax Amount $ 52.875 $ 26,775 $ 2 818
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