Mr. and Mrs. Liddy, ages 39 and 41, file a joint return and have no dependents for the year. Here is their relevant information. $$\begin{array} { l r }
\text { Salaries } & \$ 47,000 \
\text { Taxable interest incone } & 5,000 \
\text { Above-the-line deductions } & 1,800 \
\text { Iterrized deductions } & \mathbf { 3 , 2 0 0 }
\end{array}$$ Compute their adjusted gross income (AGI) and taxable income.

Question

Mr. and Mrs. Liddy, ages 39 and 41, file a joint return and have no dependents for the year. Here is their relevant information. $$\begin{array} { l r } 
\text { Salaries } & \$ 47,000 \
\text { Taxable interest incone } & 5,000 \
\text { Above-the-line deductions } & 1,800 \
\text { Iterrized deductions } & \mathbf { 3 , 2 0 0 }
\end{array}$$ Compute their adjusted gross income (AGI) and taxable income.

Quizplus · Accepted Answer

The Answer of Mr. and Mrs. Liddy, ages 39 and 41, file a joint return and have no dependents for the year. Here is their relevant information. $$\begin{array} { l r } 
\text { Salaries } & \$ 47,000 \
\text { Taxable interest incone } & 5,000 \
\text { Above-the-line deductions } & 1,800 \
\text { Iterrized deductions } & \mathbf { 3 , 2 0 0 }
\end{array}$$ Compute their adjusted gross income (AGI) and taxable income.

Mr and Mrs Compute Their Adjusted Gross Income (AGI) and Taxable Income