In 2022, Jasmine and Thomas, a married couple, had taxable income of $157,000. If they were to file separate tax returns, Jasmine would have reported taxable income of $147,000 and Thomas would have reported taxable income of $10,000. Use 2022 Tax Rate Schedules

1. What is the couple's marriage penalty or benefit?

If Thomas is a single taxpayer. In 2022, his taxable income is $486,000. What are his income tax and net investment income tax liability in each of the following alternative scenarios?

1. All of his income is salary from his employer. Assume his modified AGI is $520,000.
2. His $486,000 of taxable income includes $2,000 of long-term capital gain that is taxed at preferential rates. Assume his modified AGI is $520,000.
3. His $486,000 of taxable income includes $51,000 of long-term capital gain that is taxed at preferential rates. Assume his modified AGI is $520,000.
4. Thomas has $198,000 of taxable income, which includes $51,200 of long-term capital gain that is taxed at preferential rates. Assume his modified AGI is $216,000.