Randy and Sharon are married and have two dependent children, file jointly, and neither are...
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Randy and Sharon are married and have two dependent children, file jointly, and neither are elderly or blind. Their 2023 tax and other related information is as follows: Total salaries Bank account interest income Municipal bond interest income Value of employer provided medical insurance Employer paid premiums for $50,000 of group term life insurance Dividend income from ABC stock Loan from Randy's parents Gift from Randy's parents $160,000 Total itemized deductions 3,500 1,500 12,500 5,500 2,000 Gain from the sale of qualified small business stock acquired in 2008 5,000 15,000 18,000 25,500 
What is Randy and Sharon's taxable income? (TRICKY!) $149,000$140,000$146,800$137,800
Randy and Sharon are married and have two dependent children, file jointly, and neither are elderly or blind. Their 2023 tax and other related information is as follows: Total salaries Bank account interest income Municipal bond interest income Value of employer provided medical insurance Employer paid premiums for $50,000 of group term life insurance Dividend income from ABC stock Loan from Randy's parents Gift from Randy's parents $160,000 Total itemized deductions 3,500 1,500 12,500 5,500 2,000 Gain from the sale of qualified small business stock acquired in 2008 5,000 15,000 18,000 25,500
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