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Computation of Taxable Income. The following information relates to Tom, a single taxpayer, age 18: Wages $7,000 Taxable interest income 425 Itemized deductions 310 None

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Computation of Taxable Income. The following information relates to Tom, a single taxpayer, age 18: Wages $7,000 Taxable interest income 425 Itemized deductions 310 None of the itemized deductions are charitable contributions. a. Compute Tom's taxable income assuming he is self-supporting. b. Compute Tom's taxable income assuming he is a dependent of his parents

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