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Ohn and Elaine, ages 29 and 28, are married and file a joint return. In addition to having TWO dependent children (Jacqueline and Jesse), John and Elaine have adjusted gross income ("AGI") of $90,000 and itemized deductions of $15,000. What is their taxable income for 2013?

a. $59,400
b. $63,300
c. $75,000
d. $90,000

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M942316

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