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Compute the taxable income for a single taxpayer with the following info: salary $25,000, interest from Illinois bonds $100, corporate dividends $200, Traditional IRA contribution
Compute the taxable income for a single taxpayer with the following info: salary $25,000, interest from Illinois bonds $100, corporate dividends $200, Traditional IRA contribution $3,000, itemized deductions $11,000, which includes $300 of cash donations to qualifying charity. Standard deduction for single is $12,400.
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