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Please answer as soon as possible. Thank you. Schedule Y-2-Married Filing Separately If taxable income is over:But not over: The tax is: $ 0 $
Please answer as soon as possible. Thank you.
Schedule Y-2-Married Filing Separately If taxable income is over:But not over: The tax is: $ 0 $ 9,875 10% of taxable income $ 9,875 $ 40,125 $987.50 plus 12% of the excess over $9,875 $ 40,125 $ 85,525 $4,617.50 plus 22% of the excess over $40,125 $ 85,525 $163,300 $14,605.50 plus 24% of the excess over $85,525 $163,300 $207,350 $33,271.50 plus 32% of the excess over $163,300 $207,350 $311,025 $47,367.50 plus 35% of the excess over $207,350 $311,025 $83,653.75 plus 37% of the excess over $311,025 Leonardo, who is married but files separately, earns $82,600 of taxable income. He also has $17,600 in city of Tulsa bonds. His wife, Theresa, earns $52,600 of taxable income. If Leonardo earned an additional $32,600 of taxable income this year, what would be the marginal tax rate on the extra income for 2020? (Use tax rate schedule.) (Round your final answer to two decimal places.) Multiple Choice 22.19 percent 19.00 percent 24.19 percent 23.82 percentStep by Step Solution
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