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Bonnie and Jake (ages 35 and 36, respectively) are married with no dependents and live in Montana (not a community property state) Because Jake has
Bonnie and Jake (ages 35 and 36, respectively) are married with no dependents and live in Montana (not a community property state) Because Jake has large medical expenses, they seek your advice about filing separately to save taxes. Their income and expenses for 2017 are as follows: Bonnie's salary Jake's salary Interest income (joint) Rental loss from actively managed rental property Jake's unreimbursed medical expenses All other itemized deductions: Bonnie ake None subject to limitations $42,500 26,000 1,500 (23,000) 8,500 9,000 3,400 Determine whether Bonnie and Jake should file jointly or separately for 2017. Click here to access the tax rate schedule If required, round your answers to the nearest dollar. Bonnie Jake Joint AGI Total itemized deductions Personal exemptions Taxable income -2,675X 4,050 4,050 8,100 Tax
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