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Drew and Meg, ages 40 and 41 respectively, are married and will file a joint tax return for 2021 . They have four young children
Drew and Meg, ages 40 and 41 respectively, are married and will file a joint tax return for 2021 . They have four young children and their Adjusted Gross Income for 2021 is 125,000 . Their calculated itemized deductions total 15,000 (consisting of 10,000 of taxes and 5,000 of mortgage interest). Drew and Meg's 2021 Taxable Income is: 110,000100,200100,60099,900 Question 17 Drew is unmarried (his spouse died 4 years ago ). Drew earned wages of 120,000 and earned 800 of interest income in 2021 . Drew's daughter is 6 years old and lives with Drew. His calculated itemized deductions total 15,000 (consisting of 10,000 of taxes and 5,000 of mortgage interest). Drew's 2021 Taxable Income is: 108,250102,000120,800105,800
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