Greg and Emily are married, file jointly, and have three dependents (qualifying children ages 13, 16, and 18). They have salaries of $115,000, a capital loss of $7,000, and tax-exempt interest income of $800. They paid home mortgage interest of $6,000, state income taxes of $2,500, property taxes of $2,500, medical expenses of and charitable contributions of $10,000. Federal income taxes of $11,300 were withheld from their paychecks. (The tax year is 2021.) (Click the icon to view the standard deduction amounts.) (Click the icon to view the 2021 tax rate schedule for the Married filing jointly filing status.) Read the requirement ..... Begin by computing their taxable income. (If a box is not used in the table leave the box empty, do not select a label or enter a zero. Enter a "0" for amounts with a zero balance. Use parentheses or a minus sign to enter a loss.) Taxable income - X x Reference Reference STANDARD DEDUCTION Filing Status Married individuals filing joint returns and surviving spouses S 25,100 Heads of households S 18,800 S 12.550 Married, Filing Joint and Surviving Spouse If taxable ome is: The tax is: Not over $19,900 10% of taxable income Over $19,900 but not over $81,050 .$1,990.00 + 12% of the excess over $19,900. Over $81,050 but not over $172,750 .$9,328.00 + 22% of the excess over $81,050. Over $172,750 but not over $329,850 $29,502.00 + 24% of the excess over $172,750 Over $329,850 but not over $418,850 $67,206.00 + 32% of the excess over $329,850 Over $418,850 but not over $628,300 $95,686.00 + 35% of the excess over $418,850. Over $628,300 $168.993.50 + 37% of the excess over $628,300. Unmarried individuals (other than surviving spouses and heads of households) Married individuals filing separate returns S 12.550 $1,350 $1,700* Additional standard deduction for the aged and the blind; Individual who is married and surviving spouses Additional standard deduction for the aged and the blind; Individual who is unmarried and not a surviving spouse Taxpayer claimed as dependent on another taxpayer's return: Greater of (1) earned income plus $350 or (2) $1,100. * These amounts are $2,700 and $3,400, respectively, for a taxpayer who is both aged and blind. Print Done Print Done ols Mosolyo Thie Cloulator Car AL bo LA