In 2013, devon and mandy were married and filing their taxes jointly. they had no dependent children and were claiming the standard deduction. calculate their federal income tax for 2013 (rounded to the nearest dollar) knowing that their adjusted gross income was $73,015. $8,230 $7,060 $11,133 $9,183

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  (a)  $8230

Explanation:

The standard deduction for a married couple ($12,200) is subtracted from the adjusted gross income to find the taxable income. That amount is ...

  $73,015 -12,200 = $60,815

This puts their income in the 15% tax bracket, so the tax can be computed as ...

  $1785 +15%(60,815 -17,850) = $8229.75

The amount of tax is rounded to the nearest dollar, so is $8230.

2013 tax brackets were ...

  ≤ 17850 – 10%

  ≤ 72500 – 15%

  ≤ 146400 – 25%

The tax rate applies to the income excess over the upper end of the previous bracket. The tax applicable to that upper end is then added.

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The tax computations can be simplified to ...

  ≤ 17850 – 10% of taxable income

  ≤ 72500 – $892.50 subtracted from 15% of taxable income

  ≤ 146400 – $8142.50 subtracted from 25% of taxable income

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