Question
In 2019, Lisa and Fred, a married couple, have taxable income of $300,000. If they were to file separate tax returns, Lisa would have reported
In 2019, Lisa and Fred, a married couple, have taxable income of $300,000. If they were to file separate tax returns, Lisa would have reported taxable income of $200,000 and Fred would have reported taxable income of $100,000.
A- What is the couples marriage penalty or benefit? (Enter a penalty as a positive and a benefit as a negative)
n 2019, Jasmine and Thomas, a married couple, have taxable income of $145,000. If they were to file separate tax returns, Jasmine would have reported taxable income of $130,000 and Thomas would have reported taxable income of $15,000.
B-What is the couples marriage penalty or benefit? (Enter a marriage benefit as a negative.)
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