Itemized Deductions. During 2021, Doug incurs the following deductible expenses:$2,300 in state income taxes, $3,000 in local property taxes, $800 in medical expenses,and $2,000 in non-cash charitable contributions. Doug is 33, single, has no dependents,and has $35,000 AGI for the year. What is the amount of Doug's taxable income?

The taxable income is given as,

Answered: propert tributions. Doug is taxe

Business

Accounting

propert tributions. Doug is taxe

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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Question

Itemized Deductions. During 2021, Doug incurs the following deductible expenses:
$2,300 in state income taxes, $3,000 in local property taxes, $800 in medical expenses,
and $2,000 in non-cash charitable contributions. Doug is 33, single, has no dependents,
and has $35,000 AGI for the year. What is the amount of Doug's taxable income?

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