In 2020, Lisa and Fred, a married couple, had taxable income of $303,700.If they were to file separate tax returns, Lisa would have reported taxable income of $126,200 and Fred would have reported taxable income of $177,500.Use Tax Rate Schedule for reference.

What is the couple's marriage penalty or benefit?(Do not round intermediate calculations.)

2020 Tax Rate Schedules

Individuals

Schedule X-Single

If taxable incomeis over:But not over:The tax is:$0$9,87510% of taxable income$9,875$40,125$987.50 plus 12% of the excess over $9,875$40,125$85,525$4,617.50 plus 22% of the excess over $40,125$85,525$163,300$14,605.50 plus 24% of the excess over $85,525$163,300$207,350$33,271.50 plus 32% of the excess over $163,300$207,350$518,400$47,367.50 plus 35% of the excess over $207,350$518,400$156,235 plus 37% of the excess over $518,400

Schedule Y-1-Married Filing Jointly or Qualifying Widow(er)If taxable income is over:But not over:The tax is:$0$19,75010% of taxable income$19,750$80,250$1,975 plus 12% of the excess over $19,750$80,250$171,050$9,235 plus 22% of the excess over $80,250$171,050$326,600$29,211 plus 24% of the excess over $171,050$326,600$414,700$66,543 plus 32% of the excess over $326,600$414,700$622,050$94,735 plus 35% of the excess over $414,700$622,050$167,307.50 plus 37% of the excess over $622,050

Schedule Z-Head of Household

If taxable incomeis over:But not over:The tax is:$0$14,10010% of taxable income$14,100$53,700$1,410 plus 12% of the excess over $14,100$53,700$85,500$6,162 plus 22% of the excess over $53,700$85,500$163,300$13,158 plus 24% of the excess over $85,500$163,300$207,350$31,830 plus 32% of the excess over $163,300$207,350$518,400$45,926 plus 35% of the excess over $207,350$518,400$154,793.50 plus 37% of the excess over $518,400

Schedule Y-2-Married Filing Separately

If taxable income is over:But not over:The tax is:$0$9,87510% of taxable income$9,875$40,125$987.50 plus 12% of the excess over $9,875$40,125$85,525$4,617.50 plus 22% of the excess over $40,125$85,525$163,300$14,605.50 plus 24% of the excess over $85,525$163,300$207,350$33,271.50 plus 32% of the excess over $163,300$207,350$311,025$47,367.50 plus 35% of the excess over $207,350$311,025$83,653.75 plus 37% of the excess over $311,025