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Print Item Problem 1-2 The Tax Formula for Individuals (LO 1.3) Jason and Mary are married taxpayers in 2019. They are both under age 65

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Print Item Problem 1-2 The Tax Formula for Individuals (LO 1.3) Jason and Mary are married taxpayers in 2019. They are both under age 65 and in good health. For 2019 they have a total of $41,000 in wages and $700 in interest income. Jason and Mary's deductions for adjusted gross income amount to $5,000 and their itemized deductions equal $18,700. They have two children, ages 32 and 28, that are married and provide support for themselves. Table for the standard deduction Filing Status Standard Deduction $12,200 24,400 Single Married, filing jointly Married, filing separately Head of household Qualifying widow(er) 12,200 18,350 24,400 a. What is the amount of Jason and Mary's adjusted gross income? b. In order to minimize taxable income, Jason and Mary will in the amount of c. What is their taxable income? Check My Work Previous Next All work saved. Save and Exit Submit Assignment for Grading

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