Mr. and Mrs. D had the following income items: Mr. Ds salary $52,500 Mrs. Ds Schedule C
Question:
Mr. D’s salary ………………………………$52,500
Mrs. D’s Schedule C net profit ……………… 41,800
Interest income …………………………….. 1,300
Mrs. D’s self-employment tax was $5,906. The couple had $8,070 itemized deductions and no children or other dependents. Compute their income tax on a joint return.
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Mr and Mrs Ds total income 95600 Abovetheline deduction for onehalf ...View the full answer
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Related Book For
Principles Of Taxation For Business And Investment Planning 2016 Edition
ISBN: 9781259549250
19th Edition
Authors: Sally Jones, Shelley Rhoades Catanach
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