CHECK MY WORK? :)
(Q) Jeffrey earned a gross income of $78,350 last year. He made $2,489.78 in student loan interest deductions, donated $4,294 to his favorite charities and paid $3,571.32 in home mortgage interest. Jeffrey claims a standard deduction of $11,400 for himself and his non-working spouse. If their exemption is $7,300, what is their taxable income?
This is my work:
78350 - 2489.78 = 75,860.22 - 11400 - 7300 = 60,160.22.
I don't know what I'm doing wrong, my answer doesn't match the multiple choice answers!
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i think its A
Really? How so? I tried the problem again but I keep getting 60,160.22!