The Inouyes filed jointly in 2018.Their AGI is $78,000.They reported $2,000 of qualified business income and $22,000 of itemized deductions.They have two children,one of whom qualifies as their dependent as a qualifying child.The 2018 standard deduction amount for MFJ taxpayers is $24,000.What is the total amount of from AGI deductions they are allowed to claim on their 2018 tax return?
Correct Answer:
Verified
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q103: Jane and Ed Rochester are married
Q104: In April of year 1,Martin left his
Q104: For filing status purposes, the taxpayer's marital
Q105: Sam and Tracy have been married for 25
Q107: Jane and Ed Rochester are married
Q109: For purposes ofdetermining filing status, which of
Q109: Greg is single.During 2018,he received $60,000 of
Q110: The Dashwoods have calculated their taxable income
Q112: Kabuo and Melinda got married on December
Q113: Mason and his wife Madison have been
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents