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In 2011 lisa and fred a married couple have taxable income

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In 2011, Lisa and Fred, a married couple, have taxable income of $445,000. If they were to file separate tax returns, Lisa would have reported taxable income of $225,000 and Fred would have reported taxable income of $220,000. Use Tax Rate Schedule for reference.

  1. What is the couple's marriage penalty or benefit?
  2. It's going to be a marriage penalty of how much?

Reference no: EM13598712

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