Jane and Ed Rochester are married with a two-year-old child who lives with them and whom they support financially. In 2018, Ed and Jane realized the following items of income and expense:
They also qualified for a $2,000 child tax credit. Their employers withheld $5,800 in federal income taxes from their paychecks (in the aggregate). Finally, the 2018 standard deduction amount for MFJ taxpayers is $24,000.
What is the couple's adjusted gross income?
Definitions:
Half-Life
The time required for half the atoms of a radioactive substance to decay or disintegrate, a measure of the stability of the substance.
Steady-State Concentration
The concentration of a substance in a system where its rate of input and rate of process removal are equal.
Medical Dosages
The prescribed amount of medication to be taken by a patient, usually measured in terms of quantity or concentration.
Dosage Interval
The time between doses of a medication, critical for maintaining the therapeutic level of the drug in the bloodstream.
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