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Grant Davis and His Wife Are Filing a Joint Income

Question 92

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Grant Davis and his wife are filing a joint income tax return and had an adjusted gross income of $81,820, and itemized deductions of $8,650.
A)What is the amount of taxable income?
B)What is their tax liability? (Use Exhibit 18-3 from your text)

Correct Answer:

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​a.$57,820...

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