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Braxton and Kaih both work for XYZ Corporation where Braxton earns $ 7 3 , 0 0 0 and Kaih earns $ 6 5 ,
Braxton and Kaih both work for XYZ Corporation where Braxton earns $ and Kaih earns $ XYZ Corporation does offer a retirement plan for its employees. Braxton and Kaih have threeyear old twin daughters named Trisha and Tasha. The following is information related to their taxes for the current tax year:
Gross income
Braxton's Traditional IRA contribution
Kaih's Traditional IRA contribution
Total itemized deductions
Child Credit per child
Standard deduction
Marginal tax rate
$
$
$
$
$
$
percent
Braxton and Kaih have just inherited $ Which of the following statements is true?
A the $ will be taxable income in the years received
B the $ is excluded from gross income
Cthey should invest this money in corporate bonds to save on taxes
Dthe $ will be taxable income in the year received and they should invest the money in corporate bonds to save on taxes
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