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