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Based on the following information, what are the taxable income and tax liability for a single individual? Total income $118,000 Excludable income 2,000 Deductions for
Based on the following information, what are the taxable income and tax liability for a single individual?
Total income $118,000
Excludable income 2,000
Deductions for adjusting gross income 2,500
Deductions from adjusted gross income 8,000
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