H amp w were married and filed jointly. they had one child, Ask an Expert

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H & W were married and filed jointly. They had one child age 4. During the current year, W had a salary of $77,000 and made interest income of $100. W made (paid) a contribution to a regular IRA of $2,000. H stayed home and took care of the house and child. Expenses included home mortgage interest paid of $8,000 and property taxes on the home of $2,000. find out their income tax liability.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M942428

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