Multiple Choice
Ralph and Josee have adjusted gross income of $53,000.They have itemized deductions of $18,000 and incurred $2,000 in college expenses for their daughter who is a freshman at a local community college.They file jointly and have three exemptions at $4,000 each.Compute their tax liability for the current year.
A) $227
B) $1,170
C) $255
D) $2,780
Correct Answer:

Verified
Correct Answer:
Verified
Q7: Determining taxes requires you to address all
Q29: The _ is a fixed amount deducted
Q30: The filing status that yields the largest
Q32: Which of the following is not taxable
Q33: Which of the following is not subject
Q35: All of the following are types of
Q36: A personal exemption can be claimed for
Q37: Which of the following is not a
Q38: All interest and dividends received by an
Q56: Gross income consists of all reportable income