4. Calculating taxable income The 2019 standard deduction is $12,200 for unmarried taxpayers or married taxpayers filing separately, $24,400 for married taxpayers filing jointly, and $18,350 for taxpayers filing as head of household. Calculating Austin and Joseph's Taxable Income Austin and Joseph are a married couple filing jointly. Calculate Austin and Joseph's 2019 taxable income by filling in the worksheet. Enter adjustments and deductions as negative numbers. If your answer is zero, enter "0".

4. Calculating taxable income The 2019 standard deduction is $12,200 for unmarried taxpayers or married taxpayers filing separately, $24,400 for married taxpayers filing jointly, and $18,350 for taxpayers filing as head of household. Calculating Austin and Joseph's Taxable Income Austin and Joseph are a married couple filing jointly. Calculate Austin and Joseph's 2019 taxable income by filling in the worksheet. Enter adjustments and deductions as negative numbers. If your answer is zero, enter "0".

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Note:-

Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.
Answer completely.
You will get up vote for sure.

4. Calculating taxable income
The 2019 standard deduction is $12,200 for unmarried taxpayers or married taxpayers filing separately, $24,400 for married taxpayers filing jointly,
and $18,350 for taxpayers filing as head of household.
Calculating Austin and Joseph's Taxable Income
Austin and Joseph are a married couple filing jointly. Calculate Austin and Joseph's 2019 taxable income by filling in the worksheet. Enter adjustments
and deductions as negative numbers. If your answer is zero, enter "0".
. Austin and Joseph will earn $90,965 in wages this year.
• They estimate ordinary dividend and interest income at $800.
●
They had carpool income of $600.
• Austin and Joseph take the larger of their itemized deductions or the standard deduction.
• They donated $1,000 to a qualified charity.
2019 Taxable Income
Gross income
Less: Adjustments to income
Adjusted gross income
Less: Deductions
Taxable income
$

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