How do you calculate gross income for a married couple? Wife is a student, husband works full
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Question:
How do you calculate gross income for a married couple? Wife is a student, husband works full time. Is the calculation different for gross income, adjusted income, and taxable income? The problem states that because they are husband and wife, they are eligible to file a joint return.
Husbands salary: $165,000
wife salary: $23,000
proceeds from the sale of stock purchased 2 years earlier for $1,000: $1,800
damages received for personal injury: $12,000
car loan: $6,000
interest on bank savings account: $300
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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