Mr. Masons salary was $397,000, and Mrs. Masons salary was $344,000. They had no other income items, no above-the-line or itemized deductions, and no dependents. Assume the taxable year is 2021. Use Individual Tax Rate Schedules and Standard Deduction Table.

Required:

1. Compute their tax on a joint return.
2. Compute their combined tax if they file separate returns (married filing separately).
3. Compute their marriage penalty (excess of tax on a joint return over combined tax on two returns filed as single taxpayers).

Income Tax $

Compute their combined tax if they file separate returns (married filing separately). (Round your answers to the nearest whole dollar amount.)

	Amount
Mr. Masons tax
Mrs. Masons tax
Combined tax

Compute their marriage penalty (excess of tax on a joint return over combined tax on two returns filed as single taxpayers). (Round your intermediate calculations and final answers to the nearest whole dollar amount.)

	Amount
Mr. Masons tax if single
Mrs. Masons tax if single
Combined tax if single
Combined tax from joint return
Marriage penalty