Jane and Ed Rochester are married with a two-year-old child who lives with them and whom they support financially.In 2018,Ed and Jane realized the following items of income and expense:
$\begin{array}{l}
\begin{array} { l }
\text { Item }\
\text { Ed's Salary } \
\text { Jarne's Salary } \
\text { Muncipal bend interest income } \
\text { Qualified business income } \
\text { Alimorny paid (for AGI deduction) } \
\text { Real property tax (fron AGI deduction) } \
\text { Charitable contributions (from AGI) }
\end{array}
\begin{array} { r }
\text { Amount } \
35,000 \
70,000 \
400 \
1,000 \
( 7,000 ) \
( 10,000 ) \
( 15,000 )
\end{array}
\end{array}$ They also qualified for a $2,000 child tax credit.Their employers withheld $5,800 in federal income taxes from their paychecks (in the aggregate).Finally,the 2018 standard deduction amount for MFJ taxpayers is $24,000.
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 2018,Ed and Jane realized the following items of income and expense:
 $\begin{array}{l}
\begin{array} { l } 
\text { Item }\
\text { Ed's Salary } \
\text { Jarne's Salary } \
\text { Muncipal bend interest income } \
\text { Qualified business income } \
\text { Alimorny paid (for AGI deduction) } \
\text { Real property tax (fron AGI deduction) } \
\text { Charitable contributions (from AGI) }
\end{array}
\begin{array} { r } 
\text { Amount } \
35,000 \
70,000 \
400 \
1,000 \
( 7,000 ) \
( 10,000 ) \
( 15,000 )
\end{array}
\end{array}$ They also qualified for a $2,000 child tax credit.Their employers withheld $5,800 in federal income taxes from their paychecks (in the aggregate).Finally,the 2018 standard deduction amount for MFJ taxpayers is $24,000.
What is the couple's taxable income?

Quizplus · Accepted Answer

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 2018,Ed and Jane realized the following items of income and expense:
 $\begin{array}{l}
\begin{array} { l } 
\text { Item }\
\text { Ed's Salary } \
\text { Jarne's Salary } \
\text { Muncipal bend interest income } \
\text { Qualified business income } \
\text { Alimorny paid (for AGI deduction) } \
\text { Real property tax (fron AGI deduction) } \
\text { Charitable contributions (from AGI) }
\end{array}
\begin{array} { r } 
\text { Amount } \
35,000 \
70,000 \
400 \
1,000 \
( 7,000 ) \
( 10,000 ) \
( 15,000 )
\end{array}
\end{array}$ They also qualified for a $2,000 child tax credit.Their employers withheld $5,800 in federal income taxes from their paychecks (in the aggregate).Finally,the 2018 standard deduction amount for MFJ taxpayers is $24,000.
What is the couple's taxable income?

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