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What is their gross income

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Question - Mr. and Mrs. Bachman, both age 65, file a joint return. In 2015 they have wages of $30,000, dividends of $6,200, municipal bond interest of $3000 and received $10,300 for the sale of stock that cost $4000 in 1992. They make a $3000 contribution to their Roth IRA, paid $4100 in deductible mortgage interest and real estate taxes and made a $2,500 charitable contribution. What is their gross income, adjusted gross income, and taxable income?

Reference no: EM132042073

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