Itemized deduction or standard deduction amount $

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Steve and Sue are married with three dependent children. Their 2016 joint income tax return shows $389,000 of AGI and $60,000 of itemized deductions made up of $30,000 of state income taxes and $30,000 of charitable contributions. Calculate the following amounts: a. Itemized deduction or standard deduction amount $__________________ b. Number of exemptions and total deduction amount $__________________ c. Taxable income $__________________ View Solution:
Steve and Sue are married with three dependent children Their