What is the amount of tax the individual must pay

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Question - An individual owns 50% of the stock in an S corporation, while the individual's spouse owns 30% of the stock. The tax year is the calendar year. The corporation reports $44,000 of ordinary taxable income and pays no corporate income tax. The individual's standard deduction is $12,000. The individual has a 12% marginal tax rate for all of the income. Ignore any possible effect of a QBI deduction. What is the amount of tax the individual must pay if income taxes are filed separately rather than jointly?

Reference no: EM132975191

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