John and Mary Smith are married and file jointly. John and Mary do not have any...
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John and Mary Smith are married and file jointly. John and Mary do not have any children or other dependents. John's 2020 salary was $60,000. Mary's 2020 salary was $70,000. John made a $6,000 deductible IRA contribution for 2020. Mary made a $6,000 deductible IRA contribution for 2020. John and Mary's total itemized deductions for 2020 are $16,000. John and Mary have no education credits for 2020. John had $8,600 in federal income taxes withheld from his paychecks in 2020. Mary had $9,400 in federal income taxes withheld from her paychecks in 2020. What is John and Mary's Taxable Income? $78,000 O $101,500 $90,020 $85,800 $93,200 John and Mary Smith are married and file jointly. John and Mary do not have any children or other dependents. John's 2020 salary was $60,000. Mary's 2020 salary was $70,000. John made a $6,000 deductible IRA contribution for 2020. Mary made a $6,000 deductible IRA contribution for 2020. John and Mary's total itemized deductions for 2020 are $16,000. John and Mary have no education credits for 2020. John had $8,600 in federal income taxes withheld from his paychecks in 2020. Mary had $9,400 in federal income taxes withheld from her paychecks in 2020. What is John and Mary's Taxable Income? $78,000 O $101,500 $90,020 $85,800 $93,200
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Married and Filling as jointly2020 Johns Salary 60000 Mary Salary 70000 Gross Income ... View the full answer
Related Book For
South Western Federal Taxation 2014 Comprehensive Volume
ISBN: 9781285180922
37th Edition
Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young
Posted Date:
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