Compute Taxpayer's taxable income for the year. A $36, 150 B $34, 650 C $ 27, 350 D $43, 000 E None of the above
Compute Taxpayer's taxable income for the year. A $36, 150 B $34, 650 C $ 27, 350 D $43, 000 E None of the above
Chapter3: Computing The Tax
Section: Chapter Questions
Problem 19CE
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Taxpayer (age 67) is married, but will file as married separate. Assume that Taxpayer has one child, who qualifies as Taxpayer's dependent. Assume also that Taxpayer's spouse has already filed Form 1040 (also married separate) claiming itemized deductions of $ 17,000 on the return. Finally, assume that Taxpayer has AGI of $50, 000 for the year, but has only $7,000 of qualifying itemized deductions and wishes to claim the standard deduction for the year. Compute Taxpayer's taxable income for the year. A $36, 150 B $34, 650 C $ 27, 350 D $43, 000 E None of the above
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT