Mr. and Mrs. Daniels, ages 45, and 42, had the following income items in 2020: $\begin{array}{llr}
\text { Salaries and wages } &\$122,500\
\text { Interest income } &6,300\
\text {Dividends eligible for $ 15 \% $ rate } &4,000\
\text { Capital gain eligible for 158 rate } &1,900\
\end{array}$
Mr. and Mrs. Daniels have no dependents and claim the standard deduction. Compute their income tax liability on a joint return.

Question

Mr. and Mrs. Daniels, ages 45, and 42, had the following income items in 2020: $\begin{array}{llr}
  \text { Salaries and wages } &\$122,500\
 \text { Interest income } &6,300\
 \text {Dividends eligible for $ 15 \% $ rate  } &4,000\
 \text { Capital gain eligible for 158 rate } &1,900\
\end{array}$
 Mr. and Mrs. Daniels have no dependents and claim the standard deduction. Compute their income tax liability on a joint return.

Quizplus · Accepted Answer

The Answer of Mr. and Mrs. Daniels, ages 45, and 42, had the following income items in 2020: $\begin{array}{llr}
  \text { Salaries and wages } &\$122,500\
 \text { Interest income } &6,300\
 \text {Dividends eligible for $ 15 \% $ rate  } &4,000\
 \text { Capital gain eligible for 158 rate } &1,900\
\end{array}$
 Mr. and Mrs. Daniels have no dependents and claim the standard deduction. Compute their income tax liability on a joint return.

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