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1. A is single and has the following items of income and expense: Salary $250,000 Bank interest income $3,000 Interest income on a bond issued
1. A is single and has the following items of income and expense: Salary $250,000 Bank interest income $3,000 Interest income on a bond issued by California $2,500 Contributions to an IRA (non- Roth) $1,200 State and local income taxes $15,000 Gambling losses $7,500
Compute A's Taxable income for the year
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