Diego, age 28, married Dolores, age 27, in 2020. Their salaries for the year amounted to $48,000. They had dividend income of $2,500. Diego and Dolores’ deductions for adjusted gross income amounted to $3,000, their itemized deductions were $16,000, and they have no dependents.

Transcribed Image Text:

a. What is the amount of their adjusted gross income? b. What is the amount of their itemized deductions or standard deduction? c. What is the amount of their taxable income? d. What is their tax liability for 2020? A