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Kevin is a single person who earns $70,000 in salary for 2020 and has other income from a variety of investments, as follows: Bank savings
Kevin is a single person who earns $70,000 in salary for 2020 and has other income from a variety of investments, as follows: Bank savings account interest Interest from State of Missouri Bonds Dividends from XYZ Corp $5,500 3,500 7,000 Kevin received tax refunds when he filed his 2019 tax returns in April 2020. His federal refund was $600 and his state refund was $300. Kevin included his state taxes paid in 2019 in his $19,000 of itemized deduction on his 2019 return. Due to changes in circumstances, Kevin is not itemizing deductions on his 2020 return. Compute Kevin's taxable income for 2020
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