Rahul and Ruby are married taxpayers. They are both under age 65 and in good...
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Rahul and Ruby are married taxpayers. They are both under age 65 and in good health. For 2020 they have a total of $63,700 in wages and $715 in interest income. Rahul and Ruby's deductions for adjusted gross income amount to $5,005 and their itemized deductions equal $21,150. They claim two exemptions for the year on their joint tax return.
Table for the standard deduction
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a. What is the amount of Rahul and Ruby's adjusted gross income?
b. In order to minimize taxable income, Rahul and Ruby will take the standard deduction in the amount of
c. What is their taxable income?
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