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Karin and Chad (Ages 30 and 31,respectively)are Married and Together $6,640\$ 6,640

Question 111

Essay

Karin and Chad (ages 30 and 31,respectively)are married and together have $110,000 of AGI.This year they have recorded the following expenses:
Horne mortgage interest                                                $6,640\$ 6,640
Real estate taxes                                                              5,400
Ztate income taxes paid                                                    6,300
Medical expenses (ureirribured)                                       1,800
Enployee business expenses (ureiribursed)                        450
Charitable contributions (cash to their church)                    760 Karin and Chad will file married joint with two personal exemptions.Calculate their taxable income.

Correct Answer:

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$82,800 = $110,000 − ($6,640 + $5,400 + ...

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