Question
Mr. and Mrs. Daniels, age 67 and 52, file a joint tax return. They have itemized deductions of $25,000. They have the following information for
Mr. and Mrs. Daniels, age 67 and 52, file a joint tax return.
They have itemized deductions of $25,000. They have the following information for 2019:
|
|
|
|
| Salaries |
| 122,000 |
| Interest income |
| 6,000 |
| Allowable adjustments |
| 15,000 |
| Capital gain eligible for 15% rate |
| 3,000 |
| Federal tax withholding from salaries |
| 10,000 |
Compute their AGI, taxable income, tax liability, and federal tax refund or amount due
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Auditors Guide To IT Auditing
Authors: Richard E. Cascarino
2nd Edition
1118147618, 978-1118147610
