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Amy and Bob are married. They are preparing to file their 2017 tax return. If they were to file as single taxpayers, Amy and Bob would report $10,000 and $70,000 of taxable income, respectively. On their joint tax return, their taxable income is $80,000. How much of a marriage penalty or benefit will Amy and Bob experience in 2017?
Married Couple | Taxable Income | Tax if file jointly | Tax if file Single | Marriage Penalty |
Amy | 10,000 | XXXX | XXXX | |
Bob | 70,000 | XXXX | XXXX | |
Combined | 80,000 | XXXX | XXXX | |
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