Theodore, age 74, and Maureen, age 59, are married taxpayers with two dependents. Their adjusted gross income for the 2016 tax year is $43,600, and they have itemized deductions of $7,800. Determine the following for Theodore and Maureen's 2016 income tax return:
a.The number of exemptions
b.The greater of the amount of their standard deduction or their itemized deductions
c.Their taxable income

Question

Quizplus · Accepted Answer

The Answer of Theodore, age 74, and Maureen, age 59, are married taxpayers with two dependents. Their adjusted gross income for the 2016 tax year is $43,600, and they have itemized deductions of $7,800. Determine the following for Theodore and Maureen's 2016 income tax return:
a.The number of exemptions
b.The greater of the amount of their standard deduction or their itemized deductions
c.Their taxable income

Theodore, Age 74, and Maureen, Age 59, Are Married Taxpayers