Question

The answers for this questions are wrong..please solve the correct answers

Johnathan and Rebecca are married and file a join return. In 2019, Johnathan earned $75,000 from his job as a medical assistant. Johnathan is a participant in his employer's medical plan and his employer pays his premiums of $5,000 per year. Rebecca earned $50,000 in her entry level accounting job. Rebecca is studying for the CPA exam. Her employer requires her to belong to the Colorado Society of CPAs in anticipation of completing her licensure. The company pays her dues of $300 per year so she can maintain her membership. In 2019, Johnathan's aunt Gertrude sent him a check for $10,000 because he was her favorite nephew. Rebecca owns City of Metropolis bonds that paid interest of $500 for the year. The couple had the following other expenses for 2019: Out of pocket medical costs $7,000 State income taxes $4,000 Mortgage principal $12,000 and interest $5,500 Federal income taxes $10,000 Charitable contribution paid to a 501c3 organization $10,000 The standard deduction for a married couple for 2019 was $24,400. Based upon the above facts, provide your answer to calculate the following:

Answer 1

Workings

	Amount ($)
Income from job by Johnathan	75000
Premium paid by employer ( Perquisite )	5000
Income from job by Rebecca	50000
Membership fee paid by employer ( Perquisite )	300
Gift Received	10000
Interest on Bond	500
Gross Total Income	140,800
Less :
Premium paid by employer ( Perquisite )	5000
Membership fee paid by employer ( Perquisite )	300
Gift Received	10000
Interest on Bond	500
Adjusted Total Income	125,000
Less : Deductions
Medical Cost	7000
State Income Tax	4000
Mortgage Interest	5500
Federal Income Tax	10000
Charitable Contribution	10000
Taxable Income	88,500

Answer to the questions :

Question 1- Gross Income - $ 140,800

Question 3- Taxable Income - $ 88,500