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During 2022, Jimmy, who is single with no dependents had the following transactions: Salary $60,000 Interest income on IBM bonds 2,000 Contribution to traditional IRA

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During 2022, Jimmy, who is single with no dependents had the following transactions: Salary $60,000 Interest income on IBM bonds 2,000 Contribution to traditional IRA 2,500 Itemized deductions 10,500 The standard deduction for single filers in 2022 is $12,950. Jimmy's taxable income is

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