1. Chris and Kate are married and have 2 dependent children, ages 7 and 9. They have a gross income of $100,000. Their allowable deductions for adjusted gross income total $4,000, and they have total allowable itemized deductions of $31,250.
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3. a. What is Chris and Kate's AGI?
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5. b. What is Chris and Kate's taxable income? 
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7. c.  what is Chris and Kate's  income tax liability? Round your answer to the nearest dollar amount.

Answer rating: 100% (QA)

To calculate Chris and Kates AGI Adjusted Gross Income taxable income and income tax liability we ne... View the full answer