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Question
Alan and Sara Winthrop are a married couple who file a joint income tax return. They have two children, and they have legitimate itemized deductions totaling $25,750. Their total income from wages is $357,600. Assume the following tax table is applicable:
Married Couples Filing Joint Returns
If Your Taxable
Income Is You Pay This
Amount on the
Base of the Bracket Plus This Percentage
on the Excess over the
Base Average Tax
Rate at
Top of Bracket
Up to $19,050 $0.00 10.0% 10.0%
$19,050-$77,400 1,905.00 12.0 11.5
$77,400-$165,000 8,907.00 22.0 17.1
$165,000-$315,000 28,179.00 24.0 20.4
$315,000-$400,000 64,179.00 32.0 22.8
$400,000-$600,000 91,379.00 35.0 26.9
Over $600,000 161,379.00 37.0 37.0
What is their federal tax liability?
a. $49,048.50
b. $54,707.25
c. $52,820.50
d. $57,851.50
e. $69,571.00
Answer
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