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Find the gross income, the adjusted gross income, and the taxable income. Base the taxable income on the greater of a standard deduction or
Find the gross income, the adjusted gross income, and the taxable income. Base the taxable income on the greater of a standard deduction or an itemized deduction. The taxpayers are married, filing jointly, earned wages of $55,500 and $48,300, and received $3100 in taxable income from investments. They contributed a total of $8400 to tax-deferred retirement plans. The interest on their home mortgage was $3905, they contributed $560 to charity, and they paid $2875 in state taxes. i Click the icon to view the 2021 marginal tax rates and standard deductions. The gross income is (Simplify your answer) The adjusted gross income is $ (Simplify your answer.) The taxable income is $ (Simplify your answer.)
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