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    Calculation of Tax Liability and Refund

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    Brad and Angie had the following income and deductions during 2010:

    Salaries $100,000
    Interest income 10,000
    Itemized deduction 16,000
    Taxes withheld during year 14,000

    Calculate Brad and Angie's tax liability or refund, assuming that they have 2 personal exemptions. They file a joint tax return.

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    https://brainmass.com/business/accounting/calculation-of-tax-liability-and-refund-394458

    Solution Summary

    Calculate Brad and Angie's tax liability or refund, assuming that they have 2 personal exemptions.

    $2.19