Tamra and Jacob Are Married and They File a Joint

question 1

Multiple Choice

Tamra and Jacob are married and they file a joint tax return. Tamra received nearly five times the salary that Jacob received. Which of the following statements is true?

• A)Tamra and Jacob likely pay no tax marriage penalty nor receive a tax marriage benefit.
• B)Tamra and Jacob likely pay a tax marriage penalty.
• C)Tamra and Jacob likely receive a tax marriage benefit.
• D)Tamra and Jacob likely will pay a tax marriage penalty and receive a tax marriage benefit.

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Definitions:

Contra Account

An account used in the general ledger to reduce the value of a related account when the two are netted together.