Solved: Finding the taxable income, Accounting Basics

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Finding the taxable income

Task: Write a response to the following question:

Sally and Tom are married, have three dependent children, and file a joint return for 2010. If they have adjusted gross income of $90,000 and itemized deductions of $10,000. What is their taxable income for 2010?

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Accounting Basics: Finding the taxable income

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