Hansel and Gretel Are Married Taxpayers Who File a Joint

question 62

Essay

Hansel and Gretel are married taxpayers who file a joint income tax return for 2019. They have no dependents. On their 2019 income tax return, they have adjusted gross income of $62,000 and total itemized deductions of $4,000. What is their taxable income?

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Definitions:

Unemployment

The situation where individuals who are capable of working and actively seeking employment are unable to find a job.

Labor Force

The total number of people employed and those actively seeking employment in an economy.

Discouraged Workers

Individuals who are not actively seeking employment because they believe no jobs are available for them or there are no opportunities for which they qualify.

Unemployed

Individuals who are capable of working and are actively seeking employment but are unable to find a job.