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What is the amount of Jason and Mary adjusted gross income

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Problem - Jason and Mary are married taxpayers in 2019. They are both under age 65 and in good health. For 2019 they have a total of $41,000 in wages and $700 in interest income. Jason and Mary's deductions for adjusted gross income amount to $5,000 and their itemized deductions equal $18,700. They have two children, ages 32 and 28, that are married and provide support for themselves.

Required -

1. What is the amount of Jason and Mary's adjusted gross income?

2. What is the amount of their itemized deductions or standard deduction?

3. What is their taxable income?

Reference no: EM132632829

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