Question: Pam, a married taxpayer, is a computer engineer and earned $100,000. She has been working part-time since last year. She is 66 years old and

Pam, a married taxpayer, is a computer engineer and earned $100,000. She has been working part-time since last year. She is 66 years old and her investment in the annuity contract is $42,000. She elects to receive her annuity payments $300 per month for the reminder of her life. Since June 2022, Pam collected six annuity payments. Her husband Peter is 70 years old and blind, and received $58,000 in accident insurance proceeds. They contributed $620 to their local church. And they paid $200 for political contribution. They file their tax return as married filing jointly.

What is their taxable income for the year 2022?

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