Question
Jack black, a single individual with no dependents who is an ohio resident, reported the folloring for 2022 and 2023: 2022 2023 salary: 56000 75000
Jack black, a single individual with no dependents who is an ohio resident, reported the folloring for 2022 and 2023:
2022 2023
salary: 56000 75000
dividend income: 1000 2000
interest income from bank: 3000 5000
interest expense:
stock held for investment: 9000 0
qualified resident interest: 11000 9500
charitable contributions of
traded stock with FMV of: 25000 5000
property taxes on residence: 3000 3000
ohio income tax paid during the year: 1500 2250
sales tax paid (personal items) 850 950
no carry overs prior to 2022
Compute Jacks minimum taxable income for 2022 and 2023. assume tax laws are identical for both years.
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