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Steve and Sue are married with three dependent children

Steve and Sue are married with three dependent children. Their 2015 joint income tax return shows $389,000 of AGI and $60,000 of itemized deductions made up of $30,000 of state income taxes and $30,000 of charitable contributions. Calculate the following amounts: In your calculations, round percentages to the nearest whole number. Round your answers to the nearest dollar. a. Allowable itemized or standard deduction amount $ b. Allowable exemptions deduction amount $ c. Taxable income

 

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