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eBook Problem 1 - 1 0 The Tax Formula for Individuals, Filing Status and Tax Computation, The Standard Deduction ( LO 1 . 3 ,

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Problem 1-10
The Tax Formula for Individuals, Filing Status and Tax Computation, The Standard Deduction (LO 1.3,1.5,1.7)
Brock, age 50, and Erin, age 49, are married with three dependent children. They file a joint return for 2023. Their income from salaries totals $52,000, and they received $8,000 in taxable interest, $5,000 in royalties, and $3,000 in other ordinary income. Brock and Erin's deductions for adjusted gross income amount to $2,750, and they have itemized deductions totaling $28,000.
Table for the standard deduction
\table[[Filing Status,Standard Deduction],[Single,$13,850
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