Tax question?
my husband and I are filing a joint return. for the year, we had a gross income of $65,000 and adjustments to income to $4,000.00 we will use the standard deduction of $6,900 and are qualify for 2 personal exemptions of $2650.00 each. what is our taxable income total this is just a figure please just work with this figure
Public Comments
- How *old* is this homework question? The standard deduction is not $6900 for MFJ and exemptions are now $3400 each. Sorry, I do this for a living. I do not do homework for free.
- Your 2007 standard deduction is $10,700 and each exemption is $3,400. $65,000 - $4,000 - $10,700 - $6,800 (3400 x 2) = $43,500 Taxable income. Your federal taxes will be: $5,746.