Leonardo 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 2016?
A) Nothing
B) $121.50
C) $309.75
D) $5,927.50
E) None of these

Question

Quizplus · Accepted Answer

$24,164.00 both separate - $24,042.50 jointly = $121.50.

Leonardo Earns $80,000 of Taxable Income