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Deductions & credits
Once again... Thank you. I have printed and reviewed it and could not find the tax rate in any of the worksheets.
Husband - Total income 76000 ( all US income )
Spouse - Income 113000 (foreign income exclusion is 108500), so remaining 5,500.
Total income - 81,500
Standard deduction 27000
Taxable income - 54500
Now the tax for the whole amount 54500 is calculated at 22 percentage. I thought only for the excluded income 5,500 should be calculated at a higher rate (which is 22 percent) and remaining should be calculated at the standard tax bracket.
Please clarify.
‎October 3, 2022
11:52 AM