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complete all pls QUESTION 1 In 2021, Lisa and Fred, a married couple, have taxable income of $300,000. If they were to file separate tax
complete all pls
QUESTION 1 In 2021, Lisa and Fred, a married couple, have taxable income of $300,000. If they were to file separate tax returns, Lisa would have reported taxable income of $200,000 and Fred would have reported taxable income of $100,000. What is the couple's marriage penalty or benefit? (Enter a penalty as a positive and a benefit as a negative) QUESTION 2 In 2021, Jasmine and Thomas, a married couple, have taxable income of $145,000. If they were to file separate tax returns, Jasmine would have reported taxable income of $130,000 and Thomas would have reported taxable income of $15,000. What is the couple's marriage penalty or benefit? (Enter a marriage benefit as a negative.) QUESTION 3 In 2021, Sheryl is claimed as a dependent on her parent's tax return. Sheryl did not provide more than half her own support. She received $7,200 from a part-time job. This was her only source of income. She is 16 years old at year-end. What is Sheryl's tax liability for the year? 1p Step by Step Solution
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