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Problem 9-23 (Algorithmic) (L0. 4, 5) David and Ruby are engaged and plan to get married. During 2023, David is a full-time student and earns
Problem 9-23 (Algorithmic) (L0. 4, 5) David and Ruby are engaged and plan to get married. During 2023, David is a full-time student and earns $8,500 from a part-time job. With this income, student loans, savings, and nontaxable scholarships, he is self-supporting. For the year, Ruby is employed and has wages of $77,000. 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 the nearest whole dollar. a. Compute the following: Feedback Check My Work If married individuals elect to file separate returns, each reports only their own income, exemptions, deductions, and credits, and each must use the Tax Rate Schedule applicable to married taxpayers filing separately. It is generally advantageous for married individuals file a joint return, because the combined amount of tax is lower. b. Assume that David and Ruby get married in 2023 and file a joint return. What is their taxable income and income tax? Round your final answer to the nearest whole dollar. c. How much income tax can David and Ruby save if they get married in 2023 and file a joint return
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