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Income Components Amount (USD) Salary $220,000 Investment Income $80,000 Rental Income $70,000 Deductions and Exemptions ($100,000) ____________________________ Taxable Income $270,000 Requirements: Identify the sources of
Income Components Amount (USD) Salary $220,000 Investment Income $80,000 Rental Income $70,000 Deductions and Exemptions ($100,000) ____________________________ Taxable Income $270,000 Requirements:
- Identify the sources of income for an individual including salary, investment income, and rental income.
- Determine the deductions and exemptions totaling $100,000.
- Calculate the taxable income.
- Present all amounts in USD.
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
