Question
Assume the standard deduction for a single person is $6,350. Daniel Simmons arrived at the following tax information: Gross salary$60,080 Interest earnings$220 Dividend income$160Itemized deductions$7,180
Assume the standard deduction for a single person is $6,350. Daniel Simmons arrived at the following tax information:
Gross salary$60,080 Interest earnings$220 Dividend income$160Itemized deductions$7,180 Adjustments to income$1,200
What amount would he report as taxable income?
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Personal Financial Planning
Authors: Randy Billingsley, Lawrence J. Gitman, Michael D. Joehnk
14th edition
978-1305887725, 1305887727, 1305636619, 978-1305636613
