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Karin and Chad (Ages 30 and 31, Respectively) Are Married

Question 40

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Karin and Chad (ages 30 and 31, respectively) are married and together have $110,000 of AGI. This year they have recorded the following expenses:  Home mortgage interest $6,640 Real estate taxes 5,400 State income taxes paid 6,300 Medical expenses (unreimbursed) 1,800 Employee business expenses (unreimbursed) 450 Charitable contributions (cash to their church) 760\begin{array} { l r } \text { Home mortgage interest } & \$ 6,640 \\\text { Real estate taxes } & 5,400 \\\text { State income taxes paid } & 6,300 \\\text { Medical expenses (unreimbursed) } & 1,800 \\\text { Employee business expenses (unreimbursed) } & 450 \\\text { Charitable contributions (cash to their church) } & 760\end{array} Karin and Chad will file married joint with two personal exemptions. Calculate their taxable income.

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$83,000 = $110,000 -...

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