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

question 42

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. $$\begin{array} { l r } \text { Salaries } & \$ 47,000 \\\text { Taxable interest incone } & 5,000 \\\text { Above-the-line deductions } & 1,800 \\\text { Iterrized deductions } & \mathbf { 3 , 2 0 0 }\end{array}$$ Compute their adjusted gross income (AGI) and taxable income.

• A) AGI $50,200; taxable income $29,500
• B) AGI $52,000; taxable income $31,300
• C) AGI $52,000; taxable income $29,500
• D) AGI $50,200; taxable income $40,300

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Definitions:

Expanded Behavior Therapy

A broad approach to behavioral therapy that incorporates cognitive, affective, and physiological techniques.

Mindfulness-Based Cognitive Therapy

Mindfulness-Based Cognitive Therapy (MBCT) combines cognitive behavioral techniques with mindfulness strategies to help people better understand and manage their thoughts and emotions to reduce mental distress.

MBCT

Mindfulness-Based Cognitive Therapy, a psychological therapy designed to aid in preventing the relapse of depression, specifically in individuals with major depressive disorder.

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