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Q2.The following information is available for Bob and Brenda Horton, a married couple filing a joint return, for 2013. Both Bob and Brenda are age
Q2.The following information is available for Bob and Brenda Horton, a married couple filing a joint return, for 2013. Both Bob and Brenda are age 32 and have no dependents. Salaries $180,000 Interest income 12,000 Deductible IRA contributions 10,000 Itemized deductions 22,600 a. What is the amount of their gross income? b. What is the amount of their adjusted gross income? c. What is the amount of their taxable income?
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