In 2021, Tim, a single taxpayer, has earned income of $120,000, itemized deductions of $15,000, and unearned income of $10,000 What is his taxable income for this year The standard deduction for a single taxpayer in 2021 is $12,550 a 108,000 b 118,000 c 110,000 d 115,000

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In 2021, Tim, a single taxpayer, has earned income of $120,000, itemized deductions of $15,000, and unearned income of $10,000. What is his taxable income

In 2021, Tim, a single taxpayer, has earned income of $120,000, itemized deductions of $15,000, and unearned income of $10,000. What is his taxable income for this year? The standard deduction for a single taxpayer in 2021 is $12,550.

a. 108,000

b. 118,000

c. 110,000

d. 115,000

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