Question
Jess, age 21, is a full-time student at the University and is a dependent of her parents. She had earned income of $2,000 from a
Jess, age 21, is a full-time student at the University and is a dependent of her parents. She had earned income of $2,000 from a part-time job. In addition she had $950 interest from a savings account. She had total itemized deductions of $200 in the current year.
What is her taxable income this year?
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Step: 1
To calculate Jesss taxable income we need to start with her total income and then subtract an...
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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
