Solution-Compute their income tax on a joint return

Compute their income tax on a joint return

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Reference no: EM131771101

Problem - Mr. and Mrs. D had the following income items:

Mr. D's salary $67,000

Mrs. D's Schedule C net profit 39,800

Interest income 1,350

Mrs. D's self-employment tax was $5,620. The couple had $7,050 itemized deductions and no children or other dependents. Compute their income tax on a joint return. Assume the taxable year is 2017. Use Individual Tax Rate Schedules and Standard Deduction Table. (Round your intermediate calculations and final answers to the nearest whole dollar amount.)

Reference no: EM131771101

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Compute their income tax on a joint return

Reference no: EM131771101

Reference no: EM131771101

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