Greg is single. During 2020, he received $60,000 of salary from his employer. That was his only source of income. He reported $3,000 of for AGI deductions and $9,000 of itemized deductions. The 2020 standard deduction amount for a single taxpayer is $12,400. What is Greg's taxable income?
Greg is single. During 2020, he received $60,000 of salary from his employer. That was his only source of income. He reported $3,000 of for AGI deductions and $9,000 of itemized deductions. The 2020 standard deduction amount for a single taxpayer is $12,400. What is Greg's taxable income?
Chapter8: Taxation Of Individuals
Section: Chapter Questions
Problem 35P
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Greg is single. During 2020, he received $60,000 of salary from his employer. That was his only source of income. He reported $3,000 of for AGI deductions and $9,000 of itemized deductions. The 2020 standard deduction amount for a single taxpayer is $12,400. What is Greg's taxable income?
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ISBN:
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Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT