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In 2018, Lisa and Fred, a married couple, had taxable income of $307,500. If they were to file separate tax returns, Lisa would have reported
In 2018, Lisa and Fred, a married couple, had taxable income of $307,500. If they were to file separate tax returns, Lisa would have reported taxable income of $130,000 and Fred would have reported taxable income of $185,000. Use Tax Rate Schedule for reference.
What is the couples marriage penalty or benefit? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
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