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2.) George, age 35, and Jane, age 34, are married and file a joint income tax return for 2018. Their salaries for the year total

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2.) George, age 35, and Jane, age 34, are married and file a joint income tax return for 2018. Their salaries for the year total $92,600 and they have taxable interest income of $1,900. They have no deductions for adjusted gross income. Their itemized deductions are $24,300. Frank and Joyce do not have any dependents. a. What is the amount of their adjusted gross income? b. What is their deduction for personal exemptions? c. What is their deduction amount? d. What is the amount of their taxable income? 1 2.) George, age 35, and Jane, age 34, are married and file a joint income tax return for 2018. Their salaries for the year total $92,600 and they have taxable interest income of $1,900. They have no deductions for adjusted gross income. Their itemized deductions are $24,300. Frank and Joyce do not have any dependents. a. What is the amount of their adjusted gross income? b. What is their deduction for personal exemptions? c. What is their deduction amount? d. What is the amount of their taxable income? 1

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