Ramon, a single taxpayer with no dependents, has adjusted gross income for 2022 of $98,000 and his
Question:
Ramon, a single taxpayer with no dependents, has adjusted gross income for 2022 of $98,000 and his itemized deductions total $13,000. What taxable income will Ramon show in 2022?
a. $74,950
b. $85,800
c. $85,450
d. $85,000
e. $89,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (6 reviews)
D 98000 13000 ...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Income Tax Fundamentals 2023
ISBN: 9780357719527
41st Edition
Authors: Gerald E. Whittenburg, Steven Gill
Question Posted:
Students also viewed these Social Science questions
-
Jenna is a single taxpayer with no dependents so she qualifies for one personal exemption. During 2013, she earned wages of $124,000. She doesn't itemize deductions, so she will take the standard...
-
Ben is a single taxpayer with no dependents and is 32 years old. What is the minimum amount of income that he must have to be required to file a tax return for 2018? a. $4,150 b. $12,700 c. $12,000...
-
Ben is a single taxpayer with no dependents and is 32 years old. What is the minimum amount of income that he must have to be required to file a tax return for 2019? a. $4,200 b. $12,700 c. $12,000...
-
is manager should spend time in understanding the market before taking decisions? If yes, why?
-
a. The probability that all 20 will survive b. The probability that at most 16 survive c. The probability that at least 18 survive n 20 and p 0.95,
-
Relevant costs, special sales orderidle versus full capacity Hull Motors, Inc. (HMI), produces small gasoline-powered motors for use in lawn mowers. The com pany has been growing steadily over the...
-
Web-based exercise. Search the Internet to find a recent news report on the CPI. For example, a Google search of latest CPI turned up a couple of articles. Summarize what the article you choose says...
-
Equity method entries. Hanna Company purchased 100% of the common stock of Denver Company on January 2 for $550,000. The common stock of Denver Company at this date was $200,000, and the retained...
-
Which of the following indicates that a project should be rejected? Multiple Choice NPV > zero Profitability index < 1.0 Required return < IRR Payback period is shorter than required
-
iii Columns Rows Value Operating Cash Flow: Discount Goods vs. Big Store 30K 25K 20K 15K 10K SK OK Store Measure Values 31,530 27,389 28,564 23,257 Measure Names Big Store 25,591 24,255 23,643 26,249...
-
Brock, age 50, and Erin, age 49, are married with three dependent children. They file a joint return for 2022. Their income from salaries totals $50,000, and they received $8,000 in taxable interest,...
-
All of the following are itemized deductions in 2022 except: a. Charitable contributions b. Deductible IRA contributions c. State and local taxes d. Medical expenses e. All of the above are itemized...
-
a. Use MATLAB to solve the following equations for x, y, and z as functions of the parameter c. b. Plot the solutions for x, y, and z versus c on the same plot, for $10 c 10. 5 2z %3D 11 + +...
-
4. (15pt) A group of students were asked if they have ever driven after drinking. They also were asked, "How many days per month do you drink at least two beers?" In the following discussion, 7 = the...
-
discuss how might you apply the concepts of Total Quality (TQ) to your personal and work environment. Consider your relations with others and your daily activities interactions with. Share the...
-
Dr. Bernstein wants to expand his radiology practice. Dr. Bernstein is researching various local banks for the best certificate of deposit rate to fund his expansion. One bank is willing to offer him...
-
An airplane is flying with a velocity of 240 m/s at an angle of 30.0 with the horizontal, as the drawing shows. When the altitude of the plane is 2.4 km, a flare is released from the plane. The flare...
-
Katsura Corporation incurred pre - operating costs: Investigatory expenses of $ 1 8 , 0 0 0 New employee training $ 2 5 , 0 0 0 Advertising $ 1 0 , 0 0 0 Land and building for use as a retail store...
-
Suppose you wish to sample an amplitude modulated signal x(t) = m(t) cos( c t) where m(t) is the message signal and c = 210 4 (rad/sec) is the carrier frequency. (a) If the message is an acoustic...
-
For the next several days, take notes on your listening performance during at least a half-dozen situations in class, during social activities, and at work, if applicable. Referring to the traits of...
-
How does the earned income credit produce a "negative" income tax?
-
How does the earned income credit produce a "negative" income tax?
-
Janie graduates from high school in 2015 and enrolls in college in the fall. Her parents pay $4,000 for her tuition and fees. a. Assuming Janie's parents have AGI of $170,000, what is the American...
-
3. The nominal interest rate compounded monthly when your $7,000 becomes $11,700 in eight years is ________
-
An investor can design a risky portfolio based on two stocks, A and B. Stock A has an expected return of 21% and a standard deviation of return of 39%. Stock B has an expected return of 14% and a...
-
Advanced Small Business Certifica Drag and Drop the highlighted items into the correct boxes depending on whether they increase or decrease Alex's stock basis. Note your answers- you'll need them for...
Study smarter with the SolutionInn App