Married tax payer in 2018.

X m/ilm/takeAssignment/takeAssignmentMain.do?inprogress=true Calculator Problem 1-2 (Algorithmic) The Tax Formula for Individuals (LO 1.3) Jason and Mary are married taxpayers in 2018. They are both under age 65 and in good health. For 2018 they have a total of $60,400 in wages and $540 in interest income. Jason and Mary's deductions for adjusted gross income amount to $2,625 and their itemized deductions equal $11,310. They claim two exemptions for the year on their joint tax return. Table for the standard deduction Filing Status 2018 Standard Deduction Single $ 12,000 Married, filing jointly 24,000 Married, filing separately 12,000 Head of household 18,000 Qualifying widow(er) 24,000 go a. What is the amount of Jason and Mary's adjusted gross income? 36,700 Algo b. In order to minimize taxable income, Jason and Mary will in the amount of s Algo c. What is their taxable income? Algo 1 Algo :1/15 items Next >