Mr.and Mrs.Bachman,both age 65,file a joint return.In 2016 they have wages of $30,000,dividends of $6,200,municipal bond interest of $3,000 and received $10,300 for the sale of stock that cost $4,000 in 1992.They made a $3,000 contribution to their Roth IRA,paid $4,100 in deductible mortgage interest and real estate taxes and made a $2,500 charitable contribution.What is their gross income,adjusted gross income,and taxable income?

Question

Quizplus · Accepted Answer

The Answer of Mr.and Mrs.Bachman,both age 65,file a joint return.In 2016 they have wages of $30,000,dividends of $6,200,municipal bond interest of $3,000 and received $10,300 for the sale of stock that cost $4,000 in 1992.They made a $3,000 contribution to their Roth IRA,paid $4,100 in deductible mortgage interest and real estate taxes and made a $2,500 charitable contribution.What is their gross income,adjusted gross income,and taxable income?

MrAnd MrsBachman,both Age 65,file a Joint Return