Question
In 2020, Betty and Bill Boop are married and file a joint return with $178,000 of adjusted gross income. Both are under the age of
In 2020, Betty and Bill Boop are married and file a joint return with $178,000 of adjusted gross income. Both are under the age of 65 with no dependents, but Betty is blind. They have $13,000 in itemized deductions.
- What is the Boops taxable income?
- Using the tax schedule, what will be the Boops total tax for 2020?
- What is the Boops marginal tax rate?
- What is the Boops average tax rate?
- Without doing any calculations, just looking at the information in Appendix D of your etext, would your answers change if the Boops itemized deductions had been $15,000? Why or why not?
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
