Question
The 2019 standard deduction is $12,200 for unmarried taxpayers or married taxpayers filing separately, $24,400 for married taxpayers filing jointly, and $18,350 for taxpayers filing
The 2019 standard deduction is $12,200 for unmarried taxpayers or married taxpayers filing separately, $24,400 for married taxpayers filing jointly, and $18,350 for taxpayers filing as head of household.
Calculating George and Deons Taxable Income
George and Deon are a married couple filing jointly. Calculate George and Deons 2019 taxable income by filling in the worksheet. Enter adjustments and deductions as negative numbers. If your answer is zero, enter "0".
George and Deon will earn $70,965 in wages this year.
Deon contributed $4,000 to an IRA.
George and Deon take the larger of their itemized deductions or the standard deduction.
They paid mortgage interest of $8,600. The loan on their home is less than $750,000.
Their state and local taxes were $9,000.
They donated $10,000 to a qualified charity.
| 2019 Taxable Income | |
|---|---|
| Gross income | |
| Less: Adjustments to income | |
| Adjusted gross income | |
| Less: Deductions | |
| Taxable income |
ANSWER THE 2019 INCOME
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Cost Accounting For Managerial Planning Decision Making And Control
Authors: Andrew Schiff, Hsihui Chang, Woody M Liao, James L Boockholdt
5th Edition
0759340412, 978-0759340411
