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Q Find the gross income, the adjusted gross income, and the taxable income....

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Accounting

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Find the gross income, the adjusted gross income, and the taxable income. Base the taxable income on the greater of a standard deduction or an itemized deduction.
The taxpayers are married, filing jointly, earned wages of $57,600 and $49,400, and received $3200 in taxable income from investments. They contributed a total of $8500 to tax-deferred retirement plans. The interest on their home mortgage was $3885, they contributed $580 to charity, and they paid $2825 in state taxes.
Click the icon to view the 2021 marginal tax rates and standard deductions.
The gross income is $
(Simplify your answer.)
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