Raymond and Jackie Davis are married and file a 1040 jointly. Raymond earns $35,000 and Jackie earns $43,400 for the year. They have five children. They have earned interest of $800 and both contributed $3,500 to individual IRAs. Their itemized deductions are $6,281 in medical and dental expenses, $7,290 in real estate taxes, $10,120 in home mortgage interest, $1,150 in student loan interest, and $4,800 in charitable contributions. Calculate Raymond and Jackie's taxable income.

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The Answer of Raymond and Jackie Davis are married and file a 1040 jointly. Raymond earns $35,000 and Jackie earns $43,400 for the year. They have five children. They have earned interest of $800 and both contributed $3,500 to individual IRAs. Their itemized deductions are $6,281 in medical and dental expenses, $7,290 in real estate taxes, $10,120 in home mortgage interest, $1,150 in student loan interest, and $4,800 in charitable contributions. Calculate Raymond and Jackie's taxable income.

Raymond and Jackie Davis Are Married and File a 1040