Reference no: EM131268064
What is the 2016 adjusted gross income and taxable income for Bill and Lola, a married couple, with two dependent children, based on the following information?
Bill wages 50,000
Lila wages 40,000
Google dividend income 2,000
US Treasury note interest income 1,000
Montogomery County bond interest income 500
Lola hobby: revenue 5,000, Exoenses 7,000
Long term Capital loss 4,000
Deductions for AGI (not including any amounts from the information provided) 5,000
Lola deductible IRA contribution 4,000
Deductions from AGI (not including any amounts from the information provided) 8,000.
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: What is the 2016 adjusted gross income and taxable income for Bill and Lola, a married couple, with two dependent children, based on the following information?
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