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

question 9

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 year 2018? (Use tax rate schedule)  

• A) Nothing
• B) $103.50
• C) $309.75
• D) $5,932.50
• E) None of the choices are correct.

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