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Diego, age 28 married Dolores, age 27, in 2018. Their salaries for the year amounted to $47,230 and they had interests income amounted to $2,000,
Diego, age 28 married Dolores, age 27, in 2018. Their salaries for the year amounted to $47,230 and they had interests income amounted to $2,000, their itemized deductions were $16,000, and they have no dependents.
a. what is the amount of their adjusted gross income?
b. What is the amount of their itemized deductions or standard deduction?
c. What is the amount of their taxable income?
d. What is the amount of their tax liability for 2018?
I would like the explain with the answer.
Thank you so much!
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