Need help with Accounting Question Week 10 Homework
Mark and Patricia report adjusted gross income of $380,500 and itemized deductions of $64,000 for the interest on their home acquisition mortgage (principal amount of $890,000), taxes, and charitable contributions. They file a joint income tax return and claim their four children as dependents. What is their taxable income for 2015?
Do not include commas in your answers. ;Round your answer to the nearest decimal place (e.g. 1525).
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