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As a tax return preparer for The Fernando Rodriguez Tax & Accounting Service, you have been asked to calculate the missing information for one of
As a tax return preparer for The Fernando Rodriguez Tax & Accounting Service, you have been asked to calculate the missing information for one of the firm's tax clients. The following table gives the standard deduction for various filing statuses. Standard Deductions Single or married filing separately $12,000 Married filing jointly or surviving spouse $24,000 Head of household $18,000 65 or older and/or blind and/or someone else can claim you (or your spouse if filing jointly) as a dependent: Varies (See www.irs.gov for information.) Using the standard deduction table above, complete the following table (in $). Name Filing Status Income Adjustments to Income Adjusted Gross Income Standard Deduction Itemized Deductions Taxable Income Warfield single X $3,240 $53,460 12,000 $14,160 Enter an exact number When finding your client's taxable income, which deduction did you use? O standard deduction itemized deductions X Need Help? Read It Viewing Saved Work Revert to Last Response Submit
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