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Simone and Jake are a married couple filing their income taxes jointly. The have 4 dependent children, Conner (age 6), Lucy (age 10), Melinda (age
Simone and Jake are a married couple filing their income taxes jointly. The have 4 dependent children, Conner (age 6), Lucy (age 10), Melinda (age 14), and Ben (age 16). Based on the information provided below, their taxable income is $I Simone's total income is $60,000 but $5,000 qualify as exclusions Jake's gross income is $54,000 Together, their adjustments total $9,000 Their itemized deductions total $10,500 The standard deductions for a married couple filing jointly is $11,400 Personal exemptions are $3,650 each they are eligible for the Child Tax Credit which is $1,000 per qualifying child under the age of 17
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