Max and Jo are married, filing jointly, and earned wages of$96,400 in 2019. They also earned $822 in interest on investments and contributed $11,320 to a tax-deferred retirement plan. They claimed tax-deferred educator expenses of $185 and will use their2019 standard deduction of $24,400 rather than itemizing their deductions. Finally, they claim $2,000 child tax credits for each of their two children. Calculate Max and Jo's gross income. Calculate Max and Jo's adjusted gross income. Calculate Max and Jo's taxable income.

Answer rating: 100% (QA)

Particulars Amount Annual Salary a 96400 Interest on investments b 822 Gr... View the full answer