A taxpayer's Adjusted Gross Income on his federal tax return was $ 53,748. This taxpayer...

90.2K

Verified Solution

Question

Accounting

image
A taxpayer's Adjusted Gross Income on his federal tax return was $ 53,748. This taxpayer claimed a standard deduction of $ 4,850 and an exemption of $ 3,100. What was the taxable income of this taxpayer? One married couple had a gross income last year of $ 64,890. The income adjustments they can make total $ 3,829 and their deductions total 12,502. They can take exemptions in the amount of $ 3,100. What is the taxable income of this marriage

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students