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Teri and Jon are married with two children. Together they earned $227,000 last year, received $75,000 in rental income, received $3400 in interest from a
- Teri and Jon are married with two children. Together they earned $227,000 last year, received $75,000 in rental income, received $3400 in interest from a savings account, and contributed $6200 to a tax deferred savings account. Their itemized deductions were $20, 200.
- What is their gross income?
- What is their adjusted gross income?
- What is their taxable income?
- What is their tax (calculated from the 2018 tax table from the textbook)?
- If they had $3,200 in tax credits, and $11,790 withheld, will they receive a refund, or will they still owe money?
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Introduction To Business Statistics
Authors: Ronald M. Weiers
7th Edition
978-0538452175, 538452196, 053845217X, 2900538452198, 978-1111524081
