Question

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?

Answer 1

They fall into
`25 \%` tax bracket.

Explanation:

We need to calculate their tax return jointly, which tax bracket will they fall into.

Given :-

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 then

`\$42,700 + \$48,100 = \$90,800`

In married filling jointly table

The combine salary
`\$90,800` lies between
`\$67,900 - \$ 137,050`

so, the tax bracket is
`25 \%`

Therefore, they fall into
`25 \%` tax bracket.