Jack and Jill are married and have three dependent children, and they file a joint...
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Accounting
Jack and Jill are married and have three dependent children, and they file a joint 2016 federal income tax return in February 2017. If they wish to minimize their federal income tax liability and have adjusted gross income (AGI) of $90,000 and their itemized deductions are $10,000, what is their taxable income? The 2016 amounts for of the Standard Deduction for married taxpayers and the exemption amounts can be found at https://www.irs.gov/irb/2015- 44_IRB/ar10.html
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