What is their taxable income

Assignment Help Financial Accounting

Reference no: EM132802430

Question - Bonnie and Clyde, married filing jointly, and both over 65 years of age, have no dependents. Their 2020 income tax facts are:

Bonnie's W2 Income $145,000

Clyde's W2 Income 33,000

Short-term capital gain 36,000

Long-term capital loss: (47,000)

What is their taxable income for 2020?

A. 139,600

B. 142,200

C. 147,600

D. 148,900

Reference no: EM132802430

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