Roger, age 39, and Lucy, age 37, are married taxpayers who file a joint income tax return for 2015. They have gross income of $26,100. Their deductions for adjusted gross income are $550 and they have itemized deductions of $5,400. If Roger and Lucy claim two personal exemptions and no dependency exemptions for 2015, calculate the following amounts:
a.Their adjusted gross income
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 Roger, age 39, and Lucy, age 37, are married taxpayers who file a joint income tax return for 2015. They have gross income of $26,100. Their deductions for adjusted gross income are $550 and they have itemized deductions of $5,400. If Roger and Lucy claim two personal exemptions and no dependency exemptions for 2015, calculate the following amounts:
a.Their adjusted gross income
b.The greater of the amount of their standard deduction or their itemized deductions
c.Their taxable income

Roger, Age 39, and Lucy, Age 37, Are Married Taxpayers