College

What is the tax owed by a married couple filing jointly who report a taxable income of [tex]\$97,025[/tex]?

\[
\begin{array}{|c|c|c|c|c|c|}
\hline
\text{Taxable Income} & \text{But Less Than} & \text{Single} & \text{Married Filing Jointly} & \text{Married Filing Separately} & \text{Head of Household} \\
\hline
97,000 & 97,050 & 20,149 & 15,734 & 20,609 & 18,509 \\
\hline
97,050 & 97,100 & 20,163 & 15,776 & 20,623 & 18,521 \\
\hline
97,100 & 97,150 & 20,177 & 15,759 & 20,637 & 18,534 \\
\hline
97,150 & 97,200 & 20,191 & 15,771 & 20,651 & 18,546 \\
\hline
97,200 & 97,250 & 20,205 & 15,784 & 20,665 & 18,559 \\
\hline
97,250 & 97,300 & 20,219 & 15,796 & 20,679 & 18,571 \\
\hline
97,300 & 97,350 & 20,233 & 15,809 & 20,693 & 18,584 \\
\hline
97,350 & 97,400 & 20,247 & 15,821 & 20,707 & 18,596 \\
\hline
\end{array}
\]

Based on the table, for a taxable income of [tex]\$97,025[/tex], the tax owed by a married couple filing jointly is [tex]\$15,734[/tex].

Answer :

To determine the tax owed by a married couple filing jointly with a taxable income of \[tex]$97,025, we look at the tax brackets provided in the table for their filing status. Here’s how we can find the tax:

1. Identify the Income Range:
- We need to find where \$[/tex]97,025 falls in the given tax table for a married couple filing jointly.

2. Check the Appropriate Row:
- According to the provided table, the income range from \[tex]$97,000 to \$[/tex]97,050 includes \[tex]$97,025. This is the correct bracket for the taxable income.

3. Locate the Tax Amount:
- In the row where the taxable income is between \$[/tex]97,000 and \[tex]$97,050, the tax owed for a married couple filing jointly is \$[/tex]15,734.

So, based on the given data, the tax owed by the married couple filing jointly with a taxable income of \[tex]$97,025 is \$[/tex]15,734.