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Brian and Megan plan to marry in December 2020. Brian's salary is $130,000 and he owns his residence. His itemized deductions total $16,400. Megan's salary
Brian and Megan plan to marry in December 2020. Brian's salary is $130,000 and he owns his residence. His itemized deductions total $16,400. Megan's salary is $90,000. Her itemized deductions total only $8,500 as she does not own her residence. For purposes of this problem, assume 2021 tax rates and standard deductions are the same as 2020. (Click the icon to view the standard deduction amounts.) (Click the icon to view the 2020 tax rate schedule for the Married filing jointly filing status.) (Click the icon to view the 2020 tax rate schedule for the Single filing status.) Read the requirements. Requirement a. What will their 2020 tax be if they marry before year-end and file a joint return? Taxable income (Use the 2020 tax rate schedule for all tax calculations. Do not round intermediary calculations. Only round the amount you enter in the input field to the nearest dollar.) Brian and Megan's gross tax if they file a joint return is Requirement b. What will their combined 2020 taxes be if they delay the marriage until 2021? Compute the taxable income for Brian
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