John Murray is a florist and earned wages in 2022 of $53,950. Ellen Murray, John's wife, inherited tax-exempt bonds from her deceased uncle several years ago. The bonds are in her name alone. The bonds paid $5,200 of interest in 2022 The Murray's have one child, Margaret, age 10. Mrs. Murray's mother, Maude Stanley, is a widow who lives with the Murrays. Maude Stanley received $10,000 in social security benefits and is self-supported. Mrs. Stanley's sister, who resides in a nursing home, received $5,950 during the year in social security benefits. Except for the social security benefits, the total cost of the sister's support at the home during the year, $15,000, was provided entirely by Ellen. John and Ellen Murray had apartment rental income during the tax year of $9,500 from property owned jointly by them. Assume that the Murrays do not itemize deductions; compute their joint income tax liability for 2022 before tax credits.
John Murray is a florist and earned wages in 2022 of $53,950. Ellen Murray, John's wife, inherited tax-exempt bonds from her deceased uncle several years ago. The bonds are in her name alone. The bonds paid $5,200 of interest in 2022 The Murray's have one child, Margaret, age 10. Mrs. Murray's mother, Maude Stanley, is a widow who lives with the Murrays. Maude Stanley received $10,000 in social security benefits and is self-supported. Mrs. Stanley's sister, who resides in a nursing home, received $5,950 during the year in social security benefits. Except for the social security benefits, the total cost of the sister's support at the home during the year, $15,000, was provided entirely by Ellen. John and Ellen Murray had apartment rental income during the tax year of $9,500 from property owned jointly by them. Assume that the Murrays do not itemize deductions; compute their joint income tax liability for 2022 before tax credits.
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
