Jane and Ed Rochester are married with a two-year-old child who lives with them and whom they support financially. In 2017, Ed and Jane realized the following items of income and expense: They also qualified for a $1,000 tax credit. Their employers withheld $1,800 in taxes from their paychecks (in the aggregate). Finally, the 2017 standard deduction amount for MFJ taxpayers is $12,700 and the 2017exemption amount is $4,050.What is the couple's taxable income?

Question

Jane and Ed Rochester are married with a two-year-old child who lives with them and whom they support financially. In 2017, Ed and Jane realized the following items of income and expense:  They also qualified for a $1,000 tax credit. Their employers withheld $1,800 in taxes from their paychecks (in the aggregate). Finally, the 2017 standard deduction amount for MFJ taxpayers is $12,700 and the 2017exemption amount is $4,050.What is the couple's taxable income?

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The Answer of Jane and Ed Rochester are married with a two-year-old child who lives with them and whom they support financially. In 2017, Ed and Jane realized the following items of income and expense:  They also qualified for a $1,000 tax credit. Their employers withheld $1,800 in taxes from their paychecks (in the aggregate). Finally, the 2017 standard deduction amount for MFJ taxpayers is $12,700 and the 2017exemption amount is $4,050.What is the couple's taxable income?

Jane and Ed Rochester Are Married with a Two-Year-Old Child