An individual is a head of houschold. What is her standard deduction?a. $12,400b.524,800c. $18,350d.$18,650Oe. None of theseQUESTION 19Robert is a single taxpayer who has AGIl of $145,000 in 2020; his taxable income is $122,000. What is his federal tax liability for 2020?Oa. S18,719.00b.58,754.00Oc $23,359.50Od.$23,454.50Oe $29,280.00QUESTION 20Eugene and Velma are married. For 2020, Eugene earned $25,000 and Velma earned $30,000. They have decided to file separate returns. They have nodeductions for adjusted gross income. Eugene's itemized deductions are $14,200 and Velma's are S4,000. Assuming Eugene and Velma do not live in acommunity property state and Eugene deducts the greater of the standard deduction or itemized deductions, what is Eugene's taxable income?Oa. S12,600D.S18,000c None of thesed.S10,800e. $21,000

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An individual is a head of household. What is her standard deduction? a. $12,400 Ob.$24,800 OC S18,350 Od.S18,650 e None of these

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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