Question
the Tanaka filed jointly in 2020. their AGI is $120,000. they reported $10,000 of qualified business income and $26,000 of itemized deduction. they also have
the Tanaka filed jointly in 2020. their AGI is $120,000. they reported $10,000 of qualified business income and $26,000 of itemized deduction. they also have two dependent qualifying children. the 2020 standard deduction amount for mfj tax payers is $24,800. what is the total amount of from AGI deductions they are allowed to claim on a 2020 tax return?
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Using Financial Accounting
Authors: Carl S. Warren, Jeff Jones, Amanda Farmer
1st Edition
0357507851, 9780357507858
