Carl, Age 42, Is Married and Has Three Children

question 117

Multiple Choice

Carl, age 42, is married and has three children. In preparing to go to his accountant, he determines that he has $63,100 of salary income and $250 in dividends. He contributes $4,000 to a Roth IRA and has $6,800 of itemized deductions. His wife has no income. What is the taxable income on their 2017 joint return?

• A) $42,350
• B) $34,800
• C) $30,500
• D) $30,250

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Definitions:

Medicare Beneficiary

An individual who is eligible to receive health care benefits under the Medicare program, typically because of age or disability.

ABN

An abbreviation often used for "Advanced Beneficiary Notice," which is a notice given to patients under Medicare to convey that Medicare may not provide coverage for certain procedures or services.

Formulary

An insurance plan’s list of approved prescription medications.

Attachment Styles

Patterns of interpersonal relationships influenced by the nature of emotional bonds formed in early childhood.