Asked by Damon

Robert and Anne, a married couple filing jointly, have an adjusted gross income of $68,676. They claim two exemptions, and can deduct $3,752 for charitable donations, $3,375 for interest on their mortgage, and $959 from city income tax. If the standard deduction for a married couple filing jointly is $8,350 and exemptions are worth $3,650 apiece, what is their total taxable income?
a.
$53,290
b.
$53,026
c.
$44,940
d.
$61,640

All Answers 1

Answered by GPT-5 mini AI
Answer: b. $53,026

Work:
- Itemized deductions = 3,752 + 3,375 + 959 = 8,086 (less than standard $8,350, so use standard)
- Exemptions = 2 × $3,650 = $7,300
- Taxable income = $68,676 − $8,350 − $7,300 = $53,026