Answered step by step
Verified Expert Solution
Question
1 Approved Answer
In 2015, Mrs. Jenkins salary for the year was 65,000 dollars. She also has interest income of $4000, and bonus income of $10,000. She is
In 2015, Mrs. Jenkins salary for the year was 65,000 dollars. She also has interest income of $4000, and bonus income of $10,000. She is single and has one 12 year old child she claims as an exemption. What is her taxable income for the year? (Hint: the standard deduction in 2015 was $6300 for a single person but if you have a qualified dependent, you can claim head of household and have a standard deduction of $9250. The amount of each exemption in 2015 was $4000.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started