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I need help understanding and solving this please. Rebecca and Roberto have adjusted gross incomes of $49,000 and $33,200, respectively. Assume that each person takes
I need help understanding and solving this please.
Rebecca and Roberto have adjusted gross incomes of $49,000 and $33,200, respectively. Assume that each person takes one exemption and the standard deduction. Answer parts (a) through (c) below. Married Filing Tax Rate Single Jointly 10% up to $8,925 up to $17,850 15% up to $36,250 up to $72.500 25% up to $87,850 up to $146,400 28% up to $183,250 up to $223.050 Standard $6100 $12,200 Deduction Exemptions $3900 $3900 (per person) a. Calculate the tax owed by the couple if they delay their marriage until next year so they can each file a tax return at the single tax rate this year. The couple owes $ (Simplify your answer. Round to the nearest dollar as needed.) b. Calculate the tax owed by the couple if they marry before the end of the year and file a joint return. The couple owes $ (Simplify your answer. Round to the nearest dollar as needed.) Click to select your answer(s)Step by Step Solution
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