Axel and Ashley ages 37, and 35,

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Axel and Ashley ages 37, and 35, had the following income items in 2022:

 

Salaries and wages

$ 120,500

Interest income

6,000

Dividends eligible for 15% rate

4,000

Capital gain eligible for 15% rate

1,900

 

The couple have no dependents and claim the standard deduction. Compute their income tax liability on a joint return

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