Cortez and Jesus are married and file a joint return. During 2020, Cortez earned $178,275 as...

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Cortez and Jesus are married and file a joint return. During 2020, Cortez earned $178,275 as a specialized registered nurse and Jesus earned $112,100 as a data scientist at Facebook and received $4,671 in municipal bond interest income. They paid $20,000 in qualified residence interest (they purchased their home 20 years ago and owe $300,000 on the home at the start of the year), they paid $4,844 in state and local property taxes on their home, paid $7,524 in state income tax and incurred $3,586 in state sales tax. They have no dependents. Determine Cortez & Jesus' 2020 taxable income. Cortez and Jesus are married and file a joint return. During 2020, Cortez earned $178,275 as a specialized registered nurse and Jesus earned $112,100 as a data scientist at Facebook and received $4,671 in municipal bond interest income. They paid $20,000 in qualified residence interest (they purchased their home 20 years ago and owe $300,000 on the home at the start of the year), they paid $4,844 in state and local property taxes on their home, paid $7,524 in state income tax and incurred $3,586 in state sales tax. They have no dependents. Determine Cortez & Jesus' 2020 taxable income.

Answer rating: 100% (QA)

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