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What is jane and ed rochester s taxable income

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Reference no: EM13834518

Jane and Ed Rochester are married with a two-year-old child who lives with them and whom they support financially. In 2013, Ed and Jane realized the following items of income and expense:

They also qualified for a $1,000 tax credit. Their employers withheld $1,800 in taxes from their paychecks (in the aggregate). Finally, the 2013 standard deduction amount is $12,200 and the 2013 exemption amount is $3,900.

  • What is the couple's taxable income? 
  • What is the refund or balance due? 

Reference no: EM13834518

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What is jane and ed rochester s taxable income : Jane and Ed Rochester qualified for a $1,000 tax credit. Their employers withheld $1,800 in taxes from their paychecks (in the aggregate). Finally, the 2013 standard deduction amount is $12,200 and the 2013 exemption amount is $3,900. What is the cou..
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