Justin and Georgia File Married Jointly with One Dependent

question 93

Short Answer

Justin and Georgia file married jointly with one dependent. This year, their AGI is $319,050. What dollar amount of personal and dependency exemptions would they be allowed to deduct this year?

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Definitions:

Meteorite Impact

The collision of a meteorite with another body, such as a planet or moon, often leaving a crater and causing significant geological effects.

Foreland Basin

A structural basin that forms adjacent to mountain ranges, created by the Earth's crust flexing due to the weight of the overlying mountains.

Crystalline Rocks

Rocks that are composed of crystals or have a crystal-like structure, often formed through the cooling of molten rock.

Continental Shield

A central region of many continents consisting of relatively old metamorphic and igneous rocks, commonly of Precambrian age.