Mr and Mrs Liddy, Ages 39 and 41, File a Joint

question 69

Multiple Choice

Mr and Mrs Liddy, ages 39 and 41, file a joint return and have no dependents for the year. Here is their relevant information. Standard Deduction Table.
Salaries $ 47,000
Taxable interest income 5,000
Above-the-line deductions 1,800
Itemized deductions 16,250

• A) AGI $50,200; taxable income $26,200.
• B) AGI $52,000; taxable income $35,750.
• C) AGI $52,000; taxable income $33,950.
• D) AGI $50,200; taxable income $9,950.