In 2010, Lou has a salary of $54,000 from her job. She also has interest income of

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In 2010, Lou has a salary of $54,000 from her job. She also has interest income of $1,700. Lou is single and has no dependents. During the year Lou sold silver coins held as an investment for a $7,000 loss. Calculate the following amounts for Lou:

a. Adjusted gross income $ ____________

b. Standard deduction $ ____________

c. Exemption $ ____________

d. Taxable income $ ____________

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Income Tax Fundamentals 2011

ISBN: 9780538469197

29th Edition

Authors: Gerald E. Whittenburg, Martha Altus-Buller

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Question Posted: Oct 10, 2024 01:00 AM

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In 2010, Lou has a salary of $54,000 from her job. She also has interest income of

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Income Tax Fundamentals 2011

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