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LO 1.3 Rahul and Ruby are married taxpayers. They are both under age...

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Accounting

LO 1.3
Rahul and Ruby are married taxpayers. They are both under age 65 and in good health. For 2022, they have a total of $42,000 in wages and $300 in interest income. Rahul and Ruby's deductions for adjusted gross income amount to $6,000 and their itemized deductions equal $18,700. They have two children, ages 32 and 28, that are married and provide support for themselves.
a. What is the amount of Rahul and Ruby's adjusted gross income?
b. What is the amount of their itemized deductions or standard deduction?
c. What is their taxable income?
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