Mr and Mrs

Mr. and Mrs. Liddy, ages 39 and 41, file a joint return and have no dependents for the year. Here is their relevant information. Compute their adjusted gross income (AGI) and taxable income.

A) AGI $50,200; taxable income $30,200
B) AGI $52,000; taxable income $32,000
C) AGI $52,000; taxable income $30,200
D) AGI $50,200; taxable income $39,200