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Business, 26.05.2021 01:00 supermkimbrel

Byron and jeanne are married and have filled joint tax return since 2002.they have two school age children who lived with them all year. In 2019, Byron and jeanne had the following income and expenses: * wages $300,000
*interest from NYS bonds $2,500
Interest on savings account $1250
Stock dividend (no cash op0tion/FMV on date received) $5,750
Longterm capital gain $29,000
Short term capital loss $15,000
Section 1244 loss $120,000
Medical expanses (subject to a 10%)floor $18,000
Insurance reimbursement for medical expanses $6000
• Donation of LTCG property to charitable organization
Adjusted basis $100,000.
Fair market value $123,00

Cash on their church $45,000

Ignore the exemption deduction and assuming the limitation for charitable donation are 50%, 30% , or 20% . determine Byron and Jeanne’s Taxable for 2019

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