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Steve and Sue are married with three dependent children. Their 2015 joint income tax return shows $389,000 of AGI and $60,000 of itemized deductions made

Steve and Sue are married with three dependent children. Their 2015 joint income tax return shows $389,000 of AGI and $60,000 of itemized deductions made up of $30,000 of state income taxes and $30,000 of charitable contributions.

Calculate the following amounts:

In your calculations, round percentages to the nearest whole number. Round your answers to the nearest dollar.

a. Allowable itemized or standard deduction amount $
b. Allowable exemptions deduction amount $
c. Taxable income

$

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