Steve and Sue are married with three dependent children. Their 2013 joint income tax return shows $390,000

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Steve and Sue are married with three dependent children. Their 2013 joint income tax return shows $390,000 of AGI and $60,000 of itemized deductions made up of $30,000 of state income taxes and $30,000 of charitable contributions. Calculate the following amounts:
a. Itemized deduction or standard deduction amount $_________________
b. Number of exemptions and total deduction amount $_________________
c. Taxable income $_________________
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Related Book For  answer-question

Income Tax Fundamentals 2014

ISBN: 9781285424545

32nd Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven Gill

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