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Abimael, a single individual with a salary of $100,000, had additional income as follows: he was in a car accident and received compensatory damages for
Abimael, a single individual with a salary of $100,000, had additional income as follows: he was in a car accident and received compensatory damages for his broken nose in the amount of 25,000. Abimael also incurred and paid the following expenses during 2016: Identify each expense as a deduction for AGI, from AGI or not deductible. Using the tax formula, beginning with Income Broadly Conceived, provide a detailed calculation of Abimael's 2016 taxable income. Your answer MUST follow the tax formula! I am also looking for your calculation to compare the standard deduction amount to the total itemized deductions
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