Leonardo,who is married but files separately,earns $80,000 of taxable income.He also has $15,000 in city of Tulsa bonds.His wife,Theresa,earns $50,000 of taxable income. How much money would Leonardo and Theresa save if they file jointly instead of separately for year 2018? (Use tax rate schedule)
A)Nothing
B)$103.50
C)$309.75
D)$5,932.50
E)None of the choices are correct.

Question

Leonardo,who is married but files separately,earns $80,000 of taxable income.He also has $15,000 in city of Tulsa bonds.His wife,Theresa,earns $50,000 of taxable income. How much money would Leonardo and Theresa save if they file jointly instead of separately for year 2018? (Use tax rate schedule) 
A)Nothing
B)$103.50
C)$309.75
D)$5,932.50
E)None of the choices are correct.

Quizplus · Accepted Answer

The Answer of Leonardo,who is married but files separately,earns $80,000 of taxable income.He also has $15,000 in city of Tulsa bonds.His wife,Theresa,earns $50,000 of taxable income. How much money would Leonardo and Theresa save if they file jointly instead of separately for year 2018? (Use tax rate schedule) 
A)Nothing
B)$103.50
C)$309.75
D)$5,932.50
E)None of the choices are correct.

Leonardo,who Is Married but Files Separately,earns $80,000 of Taxable Income