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Michael, age 23, married Vanessa, age 24, in 2019. Their salaries for the year amounted to $49,250 and they had interest income of $2,900. Frank
Michael, age 23, married Vanessa, age 24, in 2019. Their salaries for the year amounted to $49,250 and they had interest income of $2,900. Frank and Marta's deductions for adjusted gross income amounted to $2,000, their itemized deductions were $17,000, and they have no dependents.
What is the amount of their adjusted gross income?
What is the amount of their itemized deductions or standard deduction?
What is the amount of their taxable income?
What is their tax liability for 2019?
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