Question

tion Ti ob Katz and Sally Mander are a maried couple with two children Total wages for 2015quald 82,700 Stock which sawings was s6o0. hemined deductions totaled $22,500. Bob and Saly quality for a $1,500 tax credit What is Bob's and Sally's taxable income? had been purchased nine months earlier was sold for a $4.000 gain Interest income fror 47 300 48 800 63,300 64800

Answer 1

Total income equals = Total wages + Gain + Interest income

=82700 + 4000 + 600

=87300

Itemized deduction is $22500,

Their taxable income is Total income - itemized deduction

=87300 - 22500

=64800

The answer is D.64800