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H and W are married and file a joint return for the current year. Both are under 65 and have good vision. They have one
H and W are married and file a joint return for the current year. Both are under 65 and have good vision. They have one child that is 10 years old. H had wages of $125,000 and W had a net loss from her sole-proprietorship (Sch. C) of ($2,300). They had Long-Term Capital gains of $4,000, Qualified Dividends of $1,000, Corporate bond interest of $2,250, and municipal bond interest of $500. In addition, H pays alimony of $5,000 (the agreement was entered into prior to 2018) and a NOL Carryforward of $10,000. They have $12,000 of with holding. They have the following expenses related to itemizing deductions (before any_percentage limitations). for the year: In the text box, calculate H and W s tax due(refund), marginal tax rate, and effective tax rate. (Show tax formula and all calculations). H and W are married and file a joint return for the current year. Both are under 65 and have good vision. They have one child that is 10 years old. H had wages of $125,000 and W had a net loss from her sole-proprietorship (Sch. C) of ($2,300). They had Long-Term Capital gains of $4,000, Qualified Dividends of $1,000, Corporate bond interest of $2,250, and municipal bond interest of $500. In addition, H pays alimony of $5,000 (the agreement was entered into prior to 2018) and a NOL Carryforward of $10,000. They have $12,000 of with holding. They have the following expenses related to itemizing deductions (before any_percentage limitations). for the year: In the text box, calculate H and W s tax due(refund), marginal tax rate, and effective tax rate. (Show tax formula and all calculations)
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