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Mr. and Mrs. Jones are both over 65 years of age and are filing a joint return. Their income for the year consisted of the

Mr. and Mrs. Jones are both over 65 years of age and are filing a joint return. Their income for the year consisted of the following: Taxable interest $ 3,000 Social Security payments 25,000 Tax-exempt interest 1,000 Taxable pension 20,000 How much of the Social Security benefits is taxable

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