FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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C. Scott, age 49, is a surviving spouse. His household includes two unmarried stepsons who qualify as his dependents. He has AGI of
$76,800 and itemized deductions of $10,100.
AGI
Less: Itemized deductions
Taxable income
d. Amelia, age 33, is an abandoned spouse who maintains a household for her three dependent children. She has AGI of $58,000 and
itemized deductions of $10,650.
AGI
Less: Itemized deductions
Taxable income
AGI
$76,800
Less: Itemized deductions
Taxable income
$58,000
e. Chang, age 42, is divorced but maintains the home in which he and Lei, his daughter, live. Lei is single and qualifies as Chang's
dependent. Chang has AGI of $65,400 and itemized deductions of $14,200.
19,400
38,600
$65,400
0
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Transcribed Image Text:C. Scott, age 49, is a surviving spouse. His household includes two unmarried stepsons who qualify as his dependents. He has AGI of $76,800 and itemized deductions of $10,100. AGI Less: Itemized deductions Taxable income d. Amelia, age 33, is an abandoned spouse who maintains a household for her three dependent children. She has AGI of $58,000 and itemized deductions of $10,650. AGI Less: Itemized deductions Taxable income AGI $76,800 Less: Itemized deductions Taxable income $58,000 e. Chang, age 42, is divorced but maintains the home in which he and Lei, his daughter, live. Lei is single and qualifies as Chang's dependent. Chang has AGI of $65,400 and itemized deductions of $14,200. 19,400 38,600 $65,400 0
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