Question

question 7 of 10
a taxpayer had a taxable income of $42,700, and his spouse had a taxable
income of $48,100. if they wish to file their tax return jointly, which tax bracket
will they fall into?

married filing jointly
taxable
income is
over
but not
over
bracket
$0
18,700
10%
18,700
67,900
15%
67,900
137,050
25%
137,050
208,850
28%
208,850
372,950
33%
372,950

35%

a. 25%

Explanation:

Step1: Calculate total taxable income

The taxpayer's income is $42,700 and the spouse's is $48,100. So total income = $42,700 + $48,100 = $90,800.

Step2: Determine tax bracket

Check the "Married Filing Jointly" table. The brackets are: 0 - 18,700 (10%), 18,700 - 87,800 (15%), 87,800 - 137,050 (25%), etc. Since $90,800 is between 87,800 and 137,050, the bracket is 25%.

Answer:

A. 25%