The Inouyes filed jointly in 2016. Their AGI is $78,000. They reported $16,000 of itemized deductions and they have two children, one of whom qualifies as their dependent. The 2016 standard deduction amount is $12,600 and each exemption is $4,050. What is the total amount of from AGI deductions they are allowed to claim on their 2016 tax return?
Correct Answer:
Verified
From AGI...
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q91: In April of year 1,Martin left his
Q101: John Maylor is a self-employed plumber of
Q101: Jasmine and her husband Arty have been
Q103: In determining filing status purposes,which of the
Q106: The Dashwoods have calculated their taxable income
Q112: Greg is single. During 2016, he received
Q113: Mason and his wife Madison have been
Q114: Jane and Ed Rochester are married
Q115: In year 1,Harold Weston's wife died.Since her
Q120: Miguel,a widower whose wife died in year
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents