For 2018, Mario, a single individual wich no dependents, receives income of $55,000 and incurs deductible expenses
Question:
For 2018, Mario, a single individual wich no dependents, receives income of $55,000 and incurs deductible expenses of $9,000.
a. What is Mario's taxable income assuming that the expenses are deductions for AGI?
b. What is Mario's taxable income assuming that the expenses are itemized deductions from AGI?
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a If the expenses are deductions for AGI Marios taxable income for 2018 is Income 55000 Deductions ...View the full answer
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Related Book For 
Federal Taxation 2019 Comprehensive
ISBN: 9780134833194
32nd Edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
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