Matt and Becky are both 66 years of age. Matt still works and earned $38,000 last year. Matt and Becky also have the following income: Interest income $2,000 Dividends 3,400 Tax exempt interest 2,700 Social security benefits 13,800 Determine their taxable income and tax liability.
Matt and Becky are both 66 years of age. Matt still works and earned $38,000 last year. Matt and Becky also have the following income: Interest income $2,000 Dividends 3,400 Tax exempt interest 2,700 Social security benefits 13,800 Determine their taxable income and tax liability.
Chapter3: Computing The Tax
Section: Chapter Questions
Problem 41P
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Matt and Becky are both 66 years of age. Matt still works and earned $38,000 last year. Matt and Becky also have the following income:
Interest income $2,000
Dividends 3,400
Tax exempt interest 2,700
Social security benefits 13,800
Determine their taxable income and tax liability.
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