What is the tax savings if residence is aquired

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Reference no: EM131449266

Jessica and Greg are married and file a joint return. They expect $380,000 of taxable income in the next year and are considering whether to purchase a personal residence that would provide aditional tax deductions of 76,000 for mortgage and real estate taxes

The marginal rate is ___% if the personal residence is not purchased and is ___ % if the personal residence is purchased

What is the tax savings if residence is aquired? (round to the nearest cent)

Tax without purchase of personal residence ____

Tax with purchase of personal residence _____

Tax savings ____

Reference no: EM131449266

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