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P 1 . 4 Jakob and Anna Bernard are a working couple. They will file a joint income tax return. This year, they have the
P Jakob and Anna Bernard are a working couple. They will file a joint income tax return.
This year, they have the following taxable income:
$ from salary and wages ordinary income
$ in interest income
$ in dividend income
$ in profit from sale of a stock they purchased years ago
$ in profit from a stock they purchased this year and sold this year
Use the federal income tax rates given in Table to work this problem.
a How much will Jakob and Anna pay in federal income taxes on above?
b How much will Jakob and Anna pay in federal income taxes on above? Note:
Remember that dividend income and ordinary income are taxed differently.
c How much will Jakob and Anna pay in federal income taxes on above?
d How much will Jakob and Anna pay in federal income taxes on above?
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