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Taxable Income. Nick is married and has three children in college. His wife is a homemaker. Nick has 1 answer below » Taxable Income. Nick is married and has three children in college. His wife is a homemaker. Nick has an adjusted gross income of $37,400. If Nick’s standard deduction is $11,900, his itemized deduc- tions are $12,200, and he gets an exemption of $3,800 for himself, his wife, and each dependent, what is his taxable income? Aug 21 2015 06:37 PM