K Use the 2021 marginal tax rates to compute the income tax owed by the following couple. Filing status: married filing jointly Gross income: $153,000 Adjustments: $21,500 Deductions: $4590 state taxes $10,700 mortgage interest $5400 property taxes $16,500 charitable contributions Tax credit: $7400 Click the icon to view the 2021 marginal tax rates The income tax owed is $ (Type an integer or a decimal. Round to the nearest cent as needed.)
K Use the 2021 marginal tax rates to compute the income tax owed by the following couple. Filing status: married filing jointly Gross income: $153,000 Adjustments: $21,500 Deductions: $4590 state taxes $10,700 mortgage interest $5400 property taxes $16,500 charitable contributions Tax credit: $7400 Click the icon to view the 2021 marginal tax rates The income tax owed is $ (Type an integer or a decimal. Round to the nearest cent as needed.)
Chapter12: Alternative Minimum Tax
Section: Chapter Questions
Problem 30P
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