Question
Diego, age 28, married Dolores, age 27, in 2018 Their salaries for the year amounted to $103,875 and they had interest income of $4,630 Diego
Diego, age 28, married Dolores, age 27, in 2018 Their salaries for the year amounted to $103,875 and they had interest income of $4,630 Diego and Dolores' deductions for adjusted gross income amounted to $8,490 their itemized deductions were $17,925, and they have no dependents on their return; and, they filed a joint return.
Filing Status | 2017 Standard Deduction |
Single | $6,350 |
Married, filing jointly | 12,700 |
Married, filing separately | 6,350 |
Head of household | 9,350 |
Qualifying widow(er) | 12,700 |
a. What is the amount of their adjusted gross income?
b. In order to minimize taxable income, Diego and Dolores will in the amount of $.
c. What is the amount of their taxable income?
d. What is their tax liability for 2017?
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Income Tax Fundamentals 2015
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven Gill
33rd Edition
9781305177772, 128543952X, 1305177770, 978-1285439525
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