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Bob Katz and Sally Mander are a married couple with four children. Total wages for 2018 equaled $124,000. Stock which had been purchased nine months
Bob Katz and Sally Mander are a married couple with four children. Total wages for 2018 equaled $124,000. Stock which had been purchased nine months earlier was sold for a $2000 gain and stock held for three years was sold for a $22,000 gain. Interest income from savings was $100. Itemized deductions totaled $18,000. Bob and Sally qualify for a $6000 tax credit. Going to the tax tables, what is Bob's and Sally's taxable income? Please select one of the following answers.
A.) $120,100
B.) $102,100
C.) $92,100
D.) $98,100
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