Question
Elliot and Karmen are married. For 2022, Elliot earned $35,000 and Karmen earned $40,000. They have decided to file separate returns. They have no deductions
Elliot and Karmen are married. For 2022, Elliot earned $35,000 and Karmen earned $40,000. They have decided to file separate returns. They have no deductions for adjusted gross income. Karmen's itemized deductions are $15,600 so she is going to itemize. Elliot's itemized deductions are $4,750. Assuming Elliot and Karmen do not live in a community property state, what is Elliot's taxable income?
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Intermediate Accounting
Authors: James D. Stice, Earl K. Stice, Fred Skousen
17th Edition
032459237X, 978-0324592375
