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In 2019, Jasmine and Thomas, a married couple, had a taxable income of $98,500. If they were to file separate tax returns, Jasmine would have
In 2019, Jasmine and Thomas, a married couple, had a taxable income of $98,500. If they were to file separate tax returns, Jasmine would have reported taxable income of $88,500 and Thomas would have reported taxable income of $10,000. Use the 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.)
Marriage penalty or Marriage benefit | $ |
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