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Compute their income tax liability on a joint return

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Reference no: EM132107620

Question - Mr. and Mrs. Daniels, ages 45, and 42, had the following income items in 2015:

Salaries and wages

$122,500

Interest income

6,300

Dividends eligible for 15% rate

4,000

Capital gain eligible for 15% rate

1,900

Mr. and Mrs. Daniels have no dependents and claim the standard deduction. Compute their income tax liability on a joint return.

$19,523

$20,363

$22,248

None of the above.

Reference no: EM132107620

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