LO5 Orley is a single individual with no dependents who has an adjusted gross income of $184,300

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LO5 Orley is a single individual with no dependents who has an adjusted gross income of $184,300 in 2010. Orley’s itemized deductions total $19,400, which includes $1,200 in deductible medical costs and $5,700 in investment interest.

a. What is Orley’s 2010 taxable income?

b. Assume that Orley’s adjusted gross income is $541,300. What is his 2010 taxable income?

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Concepts In Federal Taxation 2011

ISBN: 9780538467926

18th Edition

Authors: Kevin E. Murphy, Mark Higgins

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