Chris and Heather are engaged and plan to get married. During 2023, Chris is a full-time student and earns $9,400 from a part-time job. With this income, student loans, savings, and nontaxable scholarships, he is self-supporting. For the year, Heather is employed and has wages of $72,600. 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: Gross income and AGI Standard deduction (single) Taxable income Income tax Chris Filing Single 000 Heather Filing Single
Chris and Heather are engaged and plan to get married. During 2023, Chris is a full-time student and earns $9,400 from a part-time job. With this income, student loans, savings, and nontaxable scholarships, he is self-supporting. For the year, Heather is employed and has wages of $72,600. 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: Gross income and AGI Standard deduction (single) Taxable income Income tax Chris Filing Single 000 Heather Filing Single
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter9: Individuals As Taxpayers
Section: Chapter Questions
Problem 2CE
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Transcribed Image Text:b. Assume that Chris and Heather 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.
Gross income and AGI
Standard deduction (married, filling jointly)
Taxable income
Income tax
$
Married
Filing Jointly
c. How much income tax can Chris and Heather save if they get married in 2023 and file a joint return?
Transcribed Image Text:Chris and Heather are engaged and plan to get married. During 2023, Chris is a full-time student and earns $9,400 from a
part-time job. With this income, student loans, savings, and nontaxable scholarships, he is self-supporting. For the year,
Heather is employed and has wages of $72,600.
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:
Gross income and AGI
Standard deduction (single)
Taxable income
Income tax
Chris
Filing Single
Heather
Filing Single
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