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Leonardo, Who Is Married but Files Separately, Earns $67,000 of Taxable

question 6

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Leonardo, who is married but files separately, earns $67,000 of taxable income. He also has $18,000 in city of Tulsa bonds. His wife, Theresa, earns $53,000 of taxable income. If Leonardo instead had $33,000 of additional tax deductions for 2020, his marginal tax rate on the deductions would be: (Use tax rate schedule.) (Round your final answer to two decimal places.)


Definitions:

Bipolar Disorder

A mental disorder featuring profound changes in mood, encapsulating peaks of mania or hypomania and troughs of depression.

Childhood Rage Disorder

A controversial term potentially referring to disorders characterized by extreme anger and aggression in children, not recognized as a standalone diagnosis.

Oppositional Defiant Disorder

A behavioral disorder typically diagnosed in childhood characterized by ongoing patterns of uncooperative, defiant, and hostile behavior toward authority figures that go beyond the bounds of normal childhood behavior.

Child Abuse

Any action by another person – adult or child – that causes significant harm to a child, encompassing physical, emotional, sexual abuse, or neglect.

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