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Good afternoon. Ok...If you are married filing jointly with two dependents (you and your wife), you have a standard deduction of $11,400 plus dependent deductions of $7300 (i.e., $3650 each). That givees you total deductions of $18,700. If you only made $34,000, your taxable income would have been $15,300 and your tax would be $1533 . But, with the additional $13,000, your taxable income increases from $15,300 to $28,300, and on that your tax is $3411.
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The information given here is not legal advice. As all states have different intricacies in their laws, the information given is general only. This communication does not establish an attorney-client relationship with you. I hope this answer has been helpful to you.
Unemployment compensation is includible in gross income. You must report unemployment compensation on line 19 of Form 1040, line 13 of Form 1040A, or line 3 of Form 1040EZ. As a result, your taxable income will increase by an additional $25,000.
With your unemployment, your taxable income would increase from $28,300 to $53,300. The total tax owed on this amount would be $7161. You would, of course, receive credit for any amounts withheld from your pay.
I would appreciate it if you would please click the GREEN ACCEPT button so that I receive credit for my work; otherwise, though you have made a deposit, I do not receive credit.