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Sonia and Ted are married, have three young children, and file a joint return in 2021. If they have adjusted gross income (AGI) of $100,000
Sonia and Ted are married, have three young children, and file a joint return in 2021. If they have adjusted gross income (AGI) of $100,000 and itemized deductions of $12,000, what is their taxable income for 2021? Alternatively, what is their taxable income if the itemized deductions are $30,500 rather than $12,000? (Click the icon to view the standard deduction amounts.) R. f Sonia and Ted have adjusted gross income (AGI) of $100,000 and itemized deductions of $12,000, what is their taxable income for 2021? (If an input field is not used, leav he input field(s) empty. Do not select a label or enter a zero.) Minus Taxable income Alternatively, what is their taxable income if the itemized deductions are $30,500 rather than $12,000? (If an input field is not used, leave the input field(s) empty. Do not sele a label or enter a zero.) Minus Taxable income - Reference STANDARD DEDUCTION Filing Status Married individuals filing joint returns and surviving spouses $ 25,100 Heads of households $ 18,800 Unmarried individuals (other than surviving spouses and heads of households) S 12,550 Married individuals filing separate returns S 12,550 Additional standard deduction for the aged and the blind; Individual who is married and surviving spouses $1,350 Additional standard deduction for the aged and the blind; Individual who is unmarried and not a surviving spouse $1,700 Taxpayer claimed as dependent on another taxpayer's return: Greater of (1) earned income plus $350 or (2) $1,100. * These amounts are $2,700 and $3,400, respectively, for a taxpayer who is both aged and blind. Personal and Dependency Exemptions Suspended: In conjunction with the increased standard deduction amount, the Tax Cuts and Jobs Act reduces the personal exemption amount to So for tax years from 2018 through 2025, effectively suspending the exemptions for these years
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