Question

Joseph and Tatiana Ramirez earned a combined total income of $54,768for the year. Their exemptions and deductions include $5,000 fordependents; $1,200 in charitable contributions; and $2,100 in allowablemedical expenses. What is their taxable income?

Answer 1

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Taxable income = gross total income - exeptions - deductions

Taxable income = $54768 - $5000 - $1200 - $2100

taxable income = $46468 This is the solution