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Mr. and Mrs. Simpson have the following income items Mr. Simpson's self-employment tax was $12,903. The couple has $26,050 itemized deductions. Mrs. Simpson's Schedule C
Mr. and Mrs. Simpson have the following income items Mr. Simpson's self-employment tax was $12,903. The couple has $26,050 itemized deductions. Mrs. Simpson's Schedule C net business profit is qualified business income (non-service). Required: Compute the couple's income tax on a joint retum. Assume the taxable year is 2021 . Use individual Tax Rote Schedules and Standard Deduction Table (Round your intermediate calculations and final answers to the neorest whole dollor omount) Individual Tax Rate Schedules Married Fling Jeiatly and Sarnwise Spouse
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