Harold and Wanda (married filing jointly) have $30,000 ordinary income after the standard deduction and personal exemptions, and $50,000 in

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Harold and Wanda (married filing jointly) have $30,000 ordinary income after the standard deduction and personal exemptions, and $50,000 in unrecaptured depreciation on the sale of rental property, for total taxable income of $80,000. For 2013, the 10 percent tax bracket for married taxpayers filing jointly ends at $17,850, the next $54,650 in taxable income is taxed at 15 percent, and 25 percent applies to the next $73,900. What is Harold and Wanda’s tax?

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Harold and Wanda (married filing jointly) have $30,000 ordinary income after the standarddeduction and personal exemptions, and $50,000 in unrecaptured depreciation on the sale ofrental property,…

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