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In 2014, Lisa and Fred, a married couple, have taxable income of $795,000. If they were to file separate tax returns, Lisa would have reported

In 2014, Lisa and Fred, a married couple, have taxable income of $795,000. If they were to file separate tax returns, Lisa would have reported taxable income of $380,000 and Fred would have reported taxable income of $415,000.

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