32. Mark and Patricia report adjusted gross income of $300,500 and itemized deductions of $64,000 (mortgage interest,

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32. Mark and Patricia report adjusted gross income of $300,500 and itemized deductions of $64,000 (mortgage interest, taxes, and charitable contributions).

They file a joint income tax return and claim their four children as dependents. What is their taxable income for 2011?

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Taxation For Decision Makers

ISBN: 9781118091555

2012 Edition

Authors: Shirley Dennis Escoffier

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