Leonardo, Who Is Married but Files Separately, Earns $80,000 of Taxable

question 53

Multiple Choice

Leonardo, who is married but files separately, earns $80,000 of taxable income. He also has $15,000 in city of Tulsa bonds. His wife, Theresa, earns $50,000 of taxable income. How much money would Leonardo and Theresa save if they file jointly instead of separately for 2020? (Use tax rate schedule.)

• A)Nothing
• B)$103.50
• C)$309.75
• D)$13,580
• E)None of the choices are correct.

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Definitions:

Hydrogen Bond

A slight bond between two molecules due to the electrostatic draw between a proton in one and an electronegative atom in the opposite molecule.

Atoms

The basic unit of a chemical element, consisting of a nucleus of protons and neutrons, and electrons orbiting the nucleus.

Proteobacteria

Largest bacterial lineage; members show a wide range of metabolic diversity.

Cyanobacteria

Photosynthetic, oxygen-producing bacteria.