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A single taxpayer provided the following information for 2016: Salary $80,000 Interest on local government bonds (qualifies as a tax exclusion) 4,000 Allowable itemized deductions
A single taxpayer provided the following information for 2016:
Salary | $80,000 |
Interest on local government bonds (qualifies as a tax exclusion) | 4,000 |
Allowable itemized deductions | 13,000 |
What is taxable income?
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