What is the taxable income on their 2013 joint return?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Carl, age 42, is married and has three children. In preparing to go to his accountant, he determines that he has $63, 100 of salary income and $250 in dividends. He contributes $4,000 to a Roth IRA and has $6,800 of itemized
deductions. His wife has no income. What is the taxable income on their 2013 joint return?
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