Answer:
Calculation of total Taxable Income
Adjusted Gross Income | $41,900 |
Less: Deductions Itemized $22,700 | |
Standared Deduction $24,000 | |
Deduction higher of the Both | -$24,000 |
Taxable Incone | $17,900 |
pis possible Taxable income. Nick and Nora are married and file jointly. In 2018. they have...
Taxable income. Nick and Nora are married and let in 2018. they have an adjusted gross income of $50.500 if they have med deductions of $24.700 and the standard detection is what the table now? Nick and Nor's taxable income is (Round to the nearest dlar)
1. Bob and Ella are a married couple with no children and file jointly. they had a gross income of $67,400 and $1,800 in adjustments and $8,950 in itemized deductions. Calculate their tax liability, marginal tax rate, and average tax rate. I filled in as much as i could. for standard deductions, i have choices of single married head of household 2017 $6,350 $12,700 $9,350 2018 $12,000 $24,000 $18,000 but I do not know which standard deduction to choose? any...
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Sharon and Tray are married, have two dependent children, and file a joint return in 2018. If they have adjusted gross income (AGI) of $80,000 and itemized deductions of $8,500, what is their taxable income for 2018? (Click the icon to view the standard deduction amounts.) (If an input field is not used, leave the input field(s) empty. Do not select a label or enter a zero.) Minus: Taxable income
Sharon and Tray are married, have two dependent children, and file a joint return in 2018. If they have adjusted gross income (AGI) of $80,000 and itemized deductions of $8,500, what is their taxable income for 2018? (Click the icon to view the standard deduction amounts.) (If an input field is not used, leave the input field(s) empty. Do not select a label or enter a zero.) Adjusted gross income Minus: Standard deduction 80,000 (24,000) 56,000 Taxable income STANDARD DEDUCTION...
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