Determine their standard deduction exemption and child tax

Reference no: EM133664191

Problem: The Lees, a family of two adults and two dependent children under age 16, had a gross annual income of $68,000 for 2014. Determine their standard deduction, exemption, and child tax credit amounts, as well as their marginal and average tax rates, assuming their filing status is married filing jointly.

Reference no: EM133664191

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