Question
A single taxpayer provided the following information for 2020: Salary $45,000 Interest Income from a state bond $5,000 Allowable itemized deductions $8,000 What is taxable
A single taxpayer provided the following information for 2020:
Salary $45,000
Interest Income from a state bond $5,000
Allowable itemized deductions $8,000
What is taxable income? Hint, look at the tax formula.
| $32,600 | ||
| $37,000 | ||
| $37,600 | ||
| $24,600 |
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Financial Accounting Tools For Business Decision-Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
2nd Canadian Edition
0470833378, 978-0470833377
