Essay
The Inouyes filed jointly in 2018.Their AGI is $78,000.They reported $2,000 of qualified business income and $22,000 of itemized deductions.They have two children,one of whom qualifies as their dependent as a qualifying child.The 2018 standard deduction amount for MFJ taxpayers is $24,000.What is the total amount of from AGI deductions they are allowed to claim on their 2018 tax return?
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$24,400,determined as follows:From AGI d...View Answer
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