Mr. and Mrs. Ludwig have the following income items: Dividend eligible for 0% preferential rate...
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Accounting
Mr. and Mrs. Ludwig have the following income items: Dividend eligible for 0% preferential rate $ 3,500 Capital gain eligible for 0% preferential rate 3,000 Mrs. Ludwigs salary 44,350 Mr. Ludwig is age 66, and Mrs. Ludwig is age 68. Their itemized deductions totaled $6,590, and they have no dependents. Required: Compute their income tax on a joint return. Assume the taxable year is 2021. Use Individual Tax Rate Schedules and Standard Deduction Table. (Round your intermediate calculations and final answers to the nearest whole dollar amount.)
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