The year is within one certain year. John and Cindy are 70 and 56, respectively. They file
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The year is within one certain year.
John and Cindy are 70 and 56, respectively. They file a joint return. They have itemized deductions totaling $32,000.00.
Their sources of income and deductions are:
Wages-----------------------------------------------------$175,000.00
Interest from savings accounts------------------------ 10,000.00
Interest from NY qualified bonds--------------------- 6,000.00
Gift from John’s unlce---------------------------------- 20,000.00
Determine John and Cindy’s:
Standard Deduction
AGI
Taxable Income
Tax Liability
Related Book For
Federal Taxation 2016 Comprehensive
ISBN: 9780134104379
29th edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
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