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Suppose a married couple have the following
individual adjusted gross incomes, total
combined deductions, and medical
expenses. Answer parts (a)-().
Adjusted gross income of spouse 1: [tex]$74,000 Adjusted gross income of spouse 2: $[/tex]69,000
Click the icon to view the 2021 marginal
tax rates and standard deductions.
Combined deductions without medical expenses: [tex]$31,000 Medical expenses for spouse 1. $[/tex]10,100
Medical expenses for spouse 2: none
Medical expenses in excess of 7.5% of adjusted gross income can be
claimed as a deduction.
d. Calculate the income tax owed by spouse 1 if the couple file separately and they split the [tex]$31,000 in deductions evenly. The income tax owed by spouse 1 is $[/tex] 7617.50
(Simplify your answer.)
e. Calculate the income tax owed by spouse 2 if the couple file separately and they split the [tex]$31,000 in deductions evenly. The income tax owed by spouse 2 is $[/tex] 7518.50
f. Will the couple pay less in taxes if they file separately? If so, how much less?
Select the correct choice below and, if necessary, fill in the answer box within your choice.
A. The couple will pay Sless in taxes if they file separately
B. The couple will not pay less in taxes if they file separately.
Incorre
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