Mr and Mrs Compute Their Adjusted Gross Income (AGI) and Taxable Income

question 45

Multiple Choice

Mr. and Mrs. Dell, ages 29 and 26, file a joint return and have no dependents for the year. Here is their relevant information: Standard Deduction Table. $\begin{array}{llr} \text { Salaries } &\$163,000\\ \text { Dividend income } &1,900\\ \text { Above-the-line deductions} &6,200\\ \text { Itemized deductions } &26,200\\\end{array}$
Compute their adjusted gross income (AGI) and taxable income.

• A) AGI $164,900; taxable income $133,900
• B) AGI $158,700; taxable income $132,500
• C) AGI $158,700; taxable income $107,700
• D) AGI $164,900; taxable income $8,500

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