Bill & Mary Filling Jointly
A.
Adjusted Gross Income $ 71,000.00
Minus:Itemized Deductions $ (13,600.00)
Personal Deductions $ (12,700.00)
Taxable Income $ 44,700.00
Bill & Mary’s Gross Tax if they file a joint return is $ 6,037.35
B1.
Bills Taxes filing Single
Adjusted Gross Income $ 32,000.00
Minus:Itemized Deductions $ (12,000.00)
Personal Deductions $ (4,050.00)
Taxable Income $ 15,950.00
Bill’s Gross Tax if he was to file as a Single. $ 1,724.85
B2.
Mary’s Taxes filing Single
Adjusted Gross Income $ 32,000.00
Minus:Standard Deductions $ (6,350.00)
https://www.solvedcollegepapers.com/product/acct-310-81-acct310-81-accty8
https://www.solvedcollegepapers.com/product/acct-231-acct231-acct-231-wk