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has two parts. please complete all of the requirements. that's all thats posted . complete all of the requirements please. The following information relates to
has two parts. please complete all of the requirements.
that's all thats posted . complete all of the requirements please.
The following information relates to two married couples (Click the icon to view the information.) Read the requirement (Click the icon to view the 2020 tax rate schedule for the Married filing jointly filing status.) (Click the icon to view the standard deduction amounts.) Begin by computing taxable income for each couple. (Complete all input fields. Enter "0" for accounts with a zero balance.) Finnigans Matthews Taxable income The following information relates to two married coyo (Click the icon to view the 2020 tax rate ) bn Data table Rel Finnigans Matthews Bel zer $ 36,000 $ 900 Salary (earned by one spouse) Taxable interest income Deductible IRA contribution Itemized deductions 0 145,000 1.100 6,000 16,000 8,000 600 Withholding 1,000 Print Done ! - Thi co Reference RE Bel zel Married, Filing Joint and Surviving Spouse If taxable income is: The tax is: Not over $19,750 10% of taxable income Over $19,750 but not over $1,975.00 + 12% of the excess over $80,250 $19,750 Over $80,250 but not over $9,235.00 +22% of the excess over $171,050 $80,250 Over $171,050 but not over $29,211.00 +24% of the excess over $326,600 $171,050 Over $326,600 but not over $66,543.00 + 32% of the excess over $414,700 $326,600 CALA 700 hutnat na 04 725.004 35% of the avrace over .. Ta Print Done E Thi - X Reference Re Bel zeil Over $19,750 but not over $80,250 Over $80,250 but not over $171,050 Over $171,050 but not over $326,600 Over $326,600 but not over $414,700 Over $414,700 but not over $622,050 $1,975.00 + 12% of the excess over $19,750 $9,235.00 + 22% of the excess over $80,250 $29,211.00 +24% of the excess over $171,050. $66,543.00 + 32% of the excess over $326,600 $94,735.00 + 35% of the excess over . $414,700 $167,307.50 + 37% of the excess over $622,050 Over $622,050 Ta Print Done TH X 1 Reference Ra ze Married individuals filing joint returns and surviving spouses $ 24,800 Heads of households $ 18,650 Unmarried individuals (other than surviving spouses and heads of households) $ 12,400 Married individuals filing separate returns $ 12,400 Additional standard deduction for the aged and the blind; Individual who is married and surviving spouses $1,300 Additional standard deduction for the aged and the blind; Individual who is unmarried and not a surviving spouse $1,650 Taxpayer claimed as dependent on another taxpayer's return: Greater of (1) earned income plus $350 or (2) $1,100. * These amounts are $2,600 and $3,300, respectively, for a taxpayer who is both aged and blind. Ta Print Done The following information relates to two married couples: Click the icon to view the information.) (Click the icon to view the 2020 tax rate schedule for the Married filing jointly filing status.) Click the icon to view the standard deduction Rea Requirement Beg zerd Compute the 2020 tax due or refund due for each couple. Assume that any restrictions on itemized deductions have been applied. Ignore credits. Print Done Taxable income Step by Step Solution
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