K Chuck has $58,000 of salary and $11,850 of emized deductions. Casey has $86,000 of salary and $15.950 of itemized deductions. Charitable contributions comprise $4,800 of Chuck's and $5,300 of Casey's itemized deductions. They are married and under age 65. Click the icon to view the standard deduction amounts) Read the requirements Requirement a. Compute their taxable incomes if they file separately and Casey claims itemized deductions on her return. First, compute the taxable income for Chuck Adjusted gross income Minus: Hemized deductions Taxable income 86000 15950 70050
K Chuck has $58,000 of salary and $11,850 of emized deductions. Casey has $86,000 of salary and $15.950 of itemized deductions. Charitable contributions comprise $4,800 of Chuck's and $5,300 of Casey's itemized deductions. They are married and under age 65. Click the icon to view the standard deduction amounts) Read the requirements Requirement a. Compute their taxable incomes if they file separately and Casey claims itemized deductions on her return. First, compute the taxable income for Chuck Adjusted gross income Minus: Hemized deductions Taxable income 86000 15950 70050
Chapter12: Alternative Minimum Tax
Section: Chapter Questions
Problem 41P
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT