Jack and Jill are married and have no dependent children. They are both over 65 and Jill is blind. Their gross income is $45,000

Question

Olenka [21]

3 years ago

14

Jack and Jill are married and have no dependent children. They are both over 65 and Jill is blind. Their gross income is $45,000

and they have $13,000 in itemized deductions. Their taxable income is___________.

Business

1 answer:

yan [13] · Answer 1 · 2022-08-03T08:48:07+03:00

Answer:

They are exempt from paying tax

Explanation:

Taxable income is the amount of an individual's gross income that the government deems subject to taxes.

However, because they are aged (above 65), and their taxable income -which should be $32000 after deductions - is less than the percentage tax relief,they are exempted from paying tax for that particular year.