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Tom (age 68) and his wife Cynthia (age 70) file a joint return. They furnish all of the support of Luther (Toms 90 year old
Tom (age 68) and his wife Cynthia (age 70) file a joint return. They furnish all of the support of Luther (Toms 90 year old father) who lives with them. In 2021, the couple received $6,000 of interest income on city of Chicago bonds and interest and dividend income on corporate stocks and bonds of $50,000. Compute Hunters and Toms taxable income for 2021.
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