Answer :
To determine the tax owed by a married couple filing jointly with a taxable income of [tex]$97,025, follow these steps:
1. Identify the Taxable Income Range: Look for the row in the tax table that includes the given taxable income of $[/tex]97,025.
2. Find the Correct Row:
- The correct row is where the taxable income is in the range from [tex]$97,000 to $[/tex]97,050. Because [tex]$97,025 falls between these two values, this is our selected range.
3. Locate the Tax Amount:
- Within the identified row, find the column for 'Married filing jointly.' The amount in this position is the tax owed by the couple.
Based on the table, for a taxable income range from $[/tex]97,000 to [tex]$97,050 and a married couple filing jointly, the tax owed is $[/tex]15,734.
1. Identify the Taxable Income Range: Look for the row in the tax table that includes the given taxable income of $[/tex]97,025.
2. Find the Correct Row:
- The correct row is where the taxable income is in the range from [tex]$97,000 to $[/tex]97,050. Because [tex]$97,025 falls between these two values, this is our selected range.
3. Locate the Tax Amount:
- Within the identified row, find the column for 'Married filing jointly.' The amount in this position is the tax owed by the couple.
Based on the table, for a taxable income range from $[/tex]97,000 to [tex]$97,050 and a married couple filing jointly, the tax owed is $[/tex]15,734.
