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Jane and Ed Rochester are married with a two-year-old child who lives with them and whom they support financially. In 2019, Ed and Jane realized

Jane and Ed Rochester are married with a two-year-old child who lives with them and whom they support financially. In 2019, Ed and Jane realized the following items of income and expense:

Item

Amount

Eds Salary

$55,000

Janes Salary

34,400

Interest income on their saving account

600

Municipal bond interest income

400

Lottery winning

6,000

Dividend received from GE stocks

500

Jane received alimony from her ex

1000

Jane received gift from her aunt

3000

Alimony paid to Eds ex-wife

(7,000)

Child support paid to Eds ex-wife

(5,000)

Real property tax

(10,000)

Home mortgage interest expenses

(6,000)

Gambling loss

(4500)

Their employers withheld $1,800 in federal income taxes and $800 state income tax from their paychecks (in the aggregate). Please answer the following questions:

What is the couple's gross income?

What is the couple's AGI?

What is the couple's itemized deduction?

What is the couple's taxable income?

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