They will file a joint return-calculate the total tax owed

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Reference no: EM13879319

Mike and Julie Bedard are a working couple. They will file a joint return. For the taxable year, they have the following income:

$285,000 from wages and salaries.

$3,000 in interest income

$5,000 in dividend income

$6,000 profit from sale of a stock they purchased two years ago.

$2,000 loss from sale of a stock they purchased six months ago.This must be applied to any capital gains first.

From the information above, calculate the total tax owed.

Reference no: EM13879319

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