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The following information relates to two married couples: (Click the icon to view the information.) (Click the icon to view the 2021 tax rate schedule
The following information relates to two married couples: (Click the icon to view the information.) (Click the icon to view the 2021 tax rate schedule for the Married filing jointly filing status.) (Click the icon to view the standard deduction amounts.) Read the requirement Begin by computing taxable income for each couple. (Complete all input fields. Enter "0" for accounts with a zero balance.) McDonalds Data Table McDonalds Andolinas $ 42,000 $ 105,000 Salary (earned by one spouse) Taxable interest income 900 900 Deductible IRA contribution 0 6,000 Taxable income Itemized deductions 500 27,000 Withholding 1,200 8,200 Now calculate the 2021 tax due or refund due for each couple. (Use the 2021 tax rate schedule fo enter in the input field to the nearest dollar. Use a minus sign or parentheses for a net tax refund. The McDonalds made no charitable contributions, but $8,900 of the Andolinas itemized deductions are charitable contributions. McDonalds Andolinas Gross tax Minus: Withholding Print Done Tax due (refund) Reference STANDARD DEDUCTION Filing Status $ 25,100 $ 18,800 12,550 $ S 12,550 Married individuals filing joint returns and surviving spouses Heads of households Unmarried individuals (other than surviving spouses and heads of households) Married individuals filing separate returns Additional standard deduction for the aged and the blind; Individual who is married and surviving spouses Additional standard deduction for the aged and the blind; Individual who is unmarried and not a surviving spouse Taxpayer claimed as dependent on another taxpayer's return: Greater of (1) earned income plus $350 or (2) $1,100. These amounts are $2,700 and $3,400, respectively, for a taxpayer who is both aged and blind. $1,350* $1,700 Next Next
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