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Mr. and Mrs. Ludwig have the following income items: Dividend eligible for ex preferential rate Capital gain eligible for 0% preferential rate Mrs. Ludwig's
Mr. and Mrs. Ludwig have the following income items: Dividend eligible for ex preferential rate Capital gain eligible for 0% preferential rate Mrs. Ludwig's salary $3,400. 2,900 44,325 Mr. Ludwig is age 66, and Mrs. Ludwig is age 68. Their itemized deductions totaled $6,390, and they have no dependents. Required: Compute their income tax on a joint return. Assume the taxable year is 2021. Use Individual Tax Rate Schedules and Standardi Deduction Table (Round your intermediate calculations and final answers to the nearest whole dollar amount.) AGI Taxable Income Income tax Amount $ 50,625
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