Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. dave and alana are married. last year alana earned

Dave and Alana are married. Last year Alana earned $31,300 and Dave earned $25,100 in...

80.2K

Verified Solution

Question

Accounting

Dave and Alana are married. Last year Alana earned $31,300 and Dave earned $25,100 in wages. Additional tax information for the year is as follows: interest earned: $2,600; penalty on early withdrawal of savings: $200; contributions to IRA retirement fund: $2,500; real estate taxes paid: $2,500; mortgage interest paid: $6,800. Find the taxable income if they file a joint return. The standard deduction for each filer is $12,000.

a.$56,400

b.$59,000

c. $32,300

d.$26,000

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

Q

Consider Bond ABC. It’s a bit of an odd bond that has a step-up clause in...

Finance
Q

Describe the parts of the brain neuron including; the axon ; the dendrite ; what are...

Biology
Q

Design a straight ended helical torsion spring for a static load 200 N-m at a deflection...

Mechanical Engineering
Q

The St. Lucia Blood Bank, a private charity partly supported by government grants, is located on...

Accounting
Q

Given the BJT data and circuit diagram shown in Figure 1 calculate the total power...

Geometry
Q

Write the constraint below as a linear inequality A canoe requires 6 hours of fabrication...

Basic Math
Q

40 Which of the following is the solution to A 0 3 B 0 3...

Algebra
Q

Determine whether the given equations are linear or nonlinear 19x 1 0 x 19 0...

Algebra
Q

QUESTION 2 (%20): Considering the strong form of the boundary value problem below, derive the...

Accounting
Q

When calculating the APR, major assumptions include all of the following except: Group of answer...

Accounting
Q

Account Titles and Explanation Debit Credit Construction in Process 370000 Materials, Cash, Payables 370000 (To...

Accounting
Q

1.) "I know headquarters wants us to add that new product line," said Dell Havasi,...

Accounting