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Unformatted text preview: 29-assume both over 65 and both blindLanesWaynes11,400SalaryWaynes1,100Int. IncomeSalary1,100Gross Inc.Int. Income1,100FOR AGIGross Inc.1,100IRA Cont.FOR AGI15,800AGIIRA Cont.AGIItem. Deduct.PE (2 x 3,650)Item. Deduct.Taxable Inc.PE (2 x 3,650)-7,300Taxable Inc.TaxTaxLess: Withheld(Refund) Less: Withheld -18,700(Refund) 30-a.b.Salary1,800Int. Income1,600AGI3,400Less: SDLess: PETaxable Inc.31-a.b. ItemizingCarlCarolMFJMFSMFSCarl14,000Carol22,000AGI36,000Less: SD-10,700Less: PETaxable Inc.Total MFSTaxComp:33-a.b.c.d.e.34-a.b.c.d.e.35-a.b.36-37-a.b.c. d. 38-a.b.39-Ignore requried form and child credit!a.b.c.d.e.40-Ignore Child credit qualificationa.b.c.d.42-a.bMFJSingleSingleBil 's SalaryMary's SalaryAGIID or SDPETaxable IncomeTaxComp:Comp:44- a.b.c.d.45-a.b.c.46-Salary46,000Business Income49,000Business Expenses-24,000Gross Income71,000IRA-10,000AGI61,000IDPETaxable Income47-Medical expenses and MID cannot be taken as itemized deductions due to phase outs....
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- Spring '10