1. Stanley and Phyllis, ages 39 and 40, respectively, are married and file a joint return. They have an Adjusted Gross Income (AGI) in 2020 of $120,000.00 and itemized deductions of $28,000.00. Compute their taxable income. When computing their taxable income, determine whether or not they should utilize the basic standard deduction.

2. Angela, age 35, is single and had an Adjusted Gross Income (AGI) in 2020 of $95,000.00 and itemized deductions of $10,000.00. Compute her taxable income. When computing her taxable income, determine whether or not she should utilize the basic standard deduction.