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m T age from 5 special Comprehensive Problem (Tax Return Problem). Rodney and Alice Jones have three small children, ranging in to 10. One child
m T age from 5 special Comprehensive Problem (Tax Return Problem). Rodney and Alice Jones have three small children, ranging in to 10. One child is blind and needs care. Rodney works as an accountant for $45,000. Alice is a lawyer with a national law firm and earns $48,000. Rodney's parents are quite old, and he and his wife gross income of nth a large CPA firm and has e to fully support them. Rodney's employer provides group-term life insurance at twice the employee's annual salary. Rodney is 40 years of age. During 2020, Rodney and Alice receive the following dividends on their jointly held investments: $700 Dividends from Mexico Inc. (Mexican Corp.) Dividends from Widget Steel Corp. 150 They received interest income from the following investments: $800 Interest on State of Ohio highway bonds Interest on deposits in savings and loans 400 The Joneses have itemized deductions of $25,000. Compute their taxable income
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