Randy and Sandy, a married couple with six young children, have a gross income of $160,000, adjustments of $10,900, and itemized deductions totaling $19,350.  If personal exemptions for the year are $4,100 each and the standard deduction is $14,600 for married couples, what is Randy and Sandy's taxable income if they file jointly?

Paola and Isadora are married, file a joint tax return, and have one dependent child, Dante. The Shaws report modified AGI of $124,310. The couple paid $6,000 of tuition and $3,660 for room and board for Dante Dante, a full-time first-year student at Serene College and claimed as a dependent by Paola and Isadora. Determine the amount of the Shaws' American Opportunity credit for 2021.

Mike and Ashlyn are married and filed jointly. Their combined wages were $75,300. They earned $2000 from a rental property they own, and they received $1650 in interest. They claimed a total of four exemptions for themselves and two children. They contributed $3240 to their tax-deferred retirement plans, and their itemized deductions total $9610. Determine whether they should itemize or take the standard deduction. Then compute their taxable income. (Do NOT compute what they actually owe in income taxes.)

Carl and Karina file a joint return. Karina earned a salary of $40,250 and received dividends of $3,180, taxable interest income of $2,090, and nontaxable interest of $1,045. Carl received $9,360 of social security benefits and a gift of $6,090 from his brother. What amount of social security benefits is taxable to Carl and Karina? Taxable social security benefits = $

Sasha and Tray are married, have three dependent children and file a joint return in 2018. if they have adjusted gross income (AGI) of $80,000 and itemized deductions of $12,000, what is their taxable income for 2018?

Grady received $8,760 of Social Security benefits this year. Grady also reported salary and interest income this year. What amount of the benefits must Grady include in his gross income under the following five independent situations? Grady files married separate and reports salary of $23,540 and interest income of $740

Mr. and Mrs. Davos file a joint tax return. Each spouse contributed $3,1000 to a traditional IRA. Required: In each of the following cases, compute the deduction for these contrilbutions. The AGI in each case is before any deduction. a. Noither spouse is an active participant in a qualified retiroment plan, and thoir AGI is $126,800. b. Mr. Davos is an active participant, but Mrs. Davos is not. Their AGI is $126,800. c. Both spouses are active participants, and their AGI is $85,930. d. Mr. Devos is self-employed and doesn't have a Keogh plan. Mrs. Davos is an active participant. Their AGI is $110,000. (Do not round intermediate calculations.) Amount a Deductible amount b Deductible amount c. Deductible amount d. Deductible amount

Paola and Isidora are married; file a joint tax return; report modified AGI of $146,675; and have one dependent child, Dante. The couple paid $13,590 of tuition and $9,930 for room and board for Dante (a freshman). Dante is a full-time student and claimed as a dependent by Paola and Isidora. Determine the amount of the American Opportunity credit for the year.

Sally and Jim are married and have taxable income in 2019 of $700,000. If they could file their income tax as single individuals, each of them would have taxable income of $350,000. Do they have a marriage penalty when they file their joint return? If so, what is the amount of the penalty?

Jeremiah and Jonnie Chaulk are married and have three dependent children, ages 3, 6, and 9. Assume the taxable year is 2023. Required: a. Compute their child credit if AGI on their joint return is $90,300. b. Compute their child credit if AGI on their joint return is $464,700. c. Compute their child credit if AGI on their joint return is $198,000, and assume that they also have one non-child dependent who meets the requirements for the child credit. Complete this question by entering your answers in the tabs below. Required A Required B Required C Compute their child credit if AGI on their joint return is $90,300. Child Credit