Bob Katz and Sally Mander are a married couple with four children. Total wages for 2015 equaled $96,400.

Bob Katz and Sally Mander are a married couple with four children. Total wages for 2015 equaled $96,400. Stock which had been purchased nine months earlier was sold for a $1,600 gain and stock held for three years was sold for a $7,000 gain. Interest income from savings was $100. Itemized deductions totaled $29,500. Bob and Sally qualify for a $1,500 tax credit. What is Bob’s and Sally’s taxable income?

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