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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.

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
         

Aug 02 2021 View more View Less

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