In 2017, Jasmine and Thomas, a married couple, had taxable income of $150,000. If they were to file separate tax returns, Jasmine would have reported taxable income of $140,000 and Thomas would have reported taxable income of $10,000. Use Tax Rate Schedule for reference. What is the couple’s marriage penalty or benefit? (Do not round intermediate calculations. Round your answer to 2 decimal places. Input the amount as positive value.) Solution Answer Married Couple Taxable Income Tax if jointly filed Tax if single Jasmine 140,000 32,181.75 Thomas 10,000 1,033.75 Jointly 150,000 28,977.50 33,215.50 Tax on Jointly Filed = $10452.5 + 25%* (150000-75900) = 28,977.50 Tax if filed separately Jasmine = $18713.75 + 28%* (140000-91900) = $32,181.75 Thomas = $932.5 + 15%* (10000-9325) = $1,033.75 Marriage benefit = $4,238 (33,215.50 - 28,977.50) Married Couple Taxable Income Tax if jointly filed Tax if single Jasmine 140,000 32,181.75 Thomas 10,000 1,033.75 Jointly 150,000 28,977.50 33,215.50.