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Augustus1 Augustus1
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7 years ago
The following information is available for Bob and Brenda Horton, a married couple filing a joint return, for 2010.  Both Bob and Brenda are age 32 and have no dependents.

   Salaries   $180,000
   Interest income   12,000
   Deductible IRA contributions   8,000
   Itemized deductions   13,000
   Exemptions   7,300
   Withholding   25,000

a.   What is the amount of their gross income?
b.   What is the amount of their adjusted gross income?
c.   What is the amount of their taxable income?
d.   What is the amount of their tax liability (gross tax)?
e.   What is the amount of their tax due or (refund due)?
Textbook 
Prentice Hall's Federal Taxation: 2011: Individuals

Prentice Hall's Federal Taxation: 2011: Individuals


Edition: 14th
Authors:
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We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
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MsLippyMsLippy
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Augustus1 Author
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#2
7 years ago
You're a saint, honestly

Thank you
We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
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