In 2022, Lisa and Fred, a married couple, had taxable income of $305,400. If they were to file separate tax returns, Lisa would have reported taxable income of $127,700 and Fred would have reported taxable income of $177,700. Use Tax Rate Schedule for reference. What is the couple's marriage penalty or benefit? Note: Do not round intermediate calculations. Assessment Tool iFrame Schedule Y-1-Married Filing Jointly or Qualifying Widow(er) If taxable income is over: But not over: $ 0 $ 20,550 $ 20,550 $ 83,550 $ 178,150 $ 83,550 $ 178,150 $ 340,100 $ 340,100 $ 431,900 $ 647,850 $ 431,900 $ 647,850 The tax is: 10% of taxable income $2,055 plus 12% of the excess over $20,550 $9,615 plus 22% of the excess over $83,550 $30,427 plus 24% of the excess over $178,150 $69,295 plus 32% of the excess over $340,100 $98,671 plus 35% of the excess over $431,900 $174,253.50 plus 37% of the excess over $647,850 Schedule Y-2-Married Filing Separately If taxable income is over: But not over: $ 0 $ 10,275 $ 41,775 $ 89,075 $ 170,050 $ 215,950 $ 323,925 $ 10,275 $ 41,775 $ 89,075 $ 170,050 $ 215,950 $ 323,925 - The tax is: 10% of taxable income $1,027.50 plus 12% of the excess over $10,275 $4,807.50 plus 22% of the excess over $41,775 $15,213.50 plus 24% of the excess over $89,075 $34,647.50 plus 32% of the excess over $170,050 $49,335.50 plus 35% of the excess over $215,950 $87,126.75 plus 37% of the excess over $323,925