Based on the Following Information,what Is the 2013 Taxable Income

question 42

Multiple Choice

Based on the following information,what is the 2013 taxable income for a married couple with two children?
$$\begin{array} { l r } \text { Total income } & \$ 120,000 \\\text { Excludable income } & 2,000 \\\text { Deductions for AGI } & 5,000 \\\text { Allowable itemized deductions } & 8,000\end{array}$$

• A)$ 84,800
• B)$ 85,200
• C)$ 86,700
• D)$ 89,800
• E)$ 90,900

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