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Mr. Olaf earned an $89,000 salary, and Mrs. Olaf earned a $40,330 salary. The couple had no other income and cant itemize deductions. Assume the

Mr. Olaf earned an $89,000 salary, and Mrs. Olaf earned a $40,330 salary. The couple had no other income and cant itemize deductions. Assume the taxable year is 2020. Use Individual Tax Rate Schedules and Standard Deduction Table.

Required:

  1. Compute their combined tax if they choose to file separate returns.
  2. Compute their tax if they file a joint return.image text in transcribed

Married filing jointly and surviving spouses Married filing separately Head of household Single $24,800 12,400 18,650 12,400

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