Income Tax Some states allow a husband and wife to file
Chapter 6, Problem 6.1.247(choose chapter or problem)
Income Tax Some states allow a husband and wife to file individual tax returns (on a single form) even though they have filed a joint federal tax return. It is usually to the tax-payers advantage to do so when both husband and wife work. The smallest amount of tax owed (or the largest refund) will occur when the husbands and wifes taxable incomes are the same. Mr. McAdamss 2011 taxable income was $34,200, and Mrs. McAdamss taxable income for that year was $36,400. The McAdamss total tax deduction for the year was $3640. This deduction can be divided between Mr. and Mrs. McAdams any way they wish. How should the $3640 be divided between them to result in each individual having the same taxable income and therefore the greatest tax refund?
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