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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:
- Compute their combined tax if they choose to file separate returns.
- Compute their tax if they file a joint return.
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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