ACCT 105-Jason and Mary are married taxpayers in 2016
by | Mar 18, 2020 | Uncategorized
Jason and Mary are married taxpayers in 2016. They are both under age 65 and in good health. For this tax year, they have a total of $68,100 in wages and $715 in interest income. Jason and Mary’s deductions for adjusted gross income amount to $2,285 and their itemized deductions equal $8,950. They claim two exemptions for the year on their joint tax return
What is the amount of Jason and Mary’s adjusted gross income?
$66530
In order to minimize taxable income, Jason and Mary willtake the standard deduction
in the amount of $12600
?
What is their 2016 taxable income??????????
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