Question
Preston and Anna are engaged and plan to get married. During 2017, Preston is a full-time student and earns $5,800 from a part-time job. With
Preston and Anna are engaged and plan to get married. During 2017, Preston is a full-time student and earns $5,800 from a part-time job. With this income, student loans, savings, and nontaxable scholarships, he is self-supporting. For the year, Anna is employed and reports $68,200 in wages. The personal exemption amount for 2017 is $4,050.
Click here to access the standard deduction table to use. Click here to access the Tax Rate Schedules. If an amount is zero, enter, "0". Do not round your intermediate computations. Round your final answer to nearest whole dollar. b. Assume that Preston and Anna get married in 2017 and file a joint return. What is their taxable income and income tax? Round your final answer to nearest whole dollar. c. How much Federal income tax can Preston and Anna save if they get married in 2017 and file a joint return?
pute the tollowing Preston Anna Filing Single Filing Single Gross income and AGI Standard deduction Personal exemption Taxable income 5,800 6,350v 4,050 68,200 6,350v 4,050 57,800 0 Income tax 0 57,800 X Feedback Check y Work b. Assume that Preston and Anna get married in 2017 and file a joint return. What is their taxa inal answer to nearest whole dollar Married Filing Jointly Gross income Standard deduction Personal exemptions Taxable income Income taxStep by Step Solution
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