Tom and Linda are married taxpayers who file a joint return. They have itemized deductions of $13,050 and four exemptions. Assuming an adjusted gross income of $40,000, what is their taxable income for 2017

$13,000

Explanation:

Standard deduction for Married filling jointly = 24,000

Adjusted gross income = $40,000

Greater of itemized deduction ($13,050) and Standard deduction ($24,000) = $27,000

Taxable income = Adjusted gross income - The greater of the 2 above

Taxable income = $40,000 - $27,000

Taxable income = $13,000

So therefore, their taxable income for 2017 is $13,000

say it in english maybe we can

answer; i believe the answer is 40,600,000;