Compute their adjusted gross income

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Reference no: EM131250439

Jeremie and Pam are married and file jointly. In 2016, Jeremie earned a salary of $43,000. Pam is self-employed. Her gross business income was $58,000 and her business expenses totaled $26,000. Each contributed $4,800 to a deductible IRA. Their itemized deductions total $14,000. a. Compute their gross income. b. Compute their adjusted gross income. c. Compute their taxable income assuming they have a dependent daughter.

Reference no: EM131250439

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