Based on the following information, what is the 2018 taxable income for a married couple with two children?
?
$$\begin{array} { l r }
\text { Total income } & \$ 120,000 \
\text { Excludable income } & 2,000 \
\text { Deductions for AGI } & 5,000 \
\text { Allowable itemized deductions } & 8,000
\end{array}$$

Question

Based on the following information, what is the 2018 taxable income for a married couple with two children?
?
$$\begin{array} { l r } 
\text { Total income } & \$ 120,000 \
\text { Excludable income } & 2,000 \
\text { Deductions for AGI } & 5,000 \
\text { Allowable itemized deductions } & 8,000
\end{array}$$

Quizplus · Accepted Answer

Taxable income = Total income - Excludable income - Deductions for AGI - Allowable itemized deductions= $120,000 - $2,000 - $5,000 - $8,000= $89,000

Based on the Following Information, What Is the 2018 Taxable