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# Calculat the avable income and federal aee pai (a) Single filer; AGI \$65,000; itemized deductions...

Calculat the avable income and federal aee pai (a) Single filer; AGI \$65,000; itemized deductions \$2500 (b) Single filer; AGI \$110,000; itemized deductions S15,000 (c) Married filing jointly; AGI \$150,000; itemized deductions- \$8000 (d) Two people are married, but they filing as two single people, AGI( 1 )-\$80,000, AGI(2) \$70,000; itemized deduction(1) - \$5000, itemized deductions(2)-S3000; compare the combined answers here to the answer in part (c); now find the new tax brackets for "married filing separately" and do the same comparison.

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ReportAnswer #1

a). Taxable income = AGI- Deductions

= 65000-2500

=62500

taxable @25% = (62500*25)/100

= 15625

b). Taxable income = 110000-15000

=95000

taxable @ 28% = 26600

c). taxable income = 150000-8000

= 142000

taxable @ 25% = 35500

d). taxable income (1) = 80000-5000

=75000

Taxable @ 25% = 18750

Taxable income (2) = 70000-3000

=67000

Taxable @ 25% = 16750

total taxable of (1) and (2) = 35500

Married filing = 150000-8000

= 142000

Taxable @ 25% = 35500

Both are same

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