Question
Mr. Coleman, an unmarried individual, has the following income items: Interest income $ 24,200 Ordinary loss from an S corporation (8,400 ) Ordinary income from
Mr. Coleman, an unmarried individual, has the following income items:
Interest income $ 24,200
Ordinary loss from an S corporation (8,400 )
Ordinary income from a limited partnership 59,000
He has $9,300 itemized deductions and no dependents. Mr. Colemans passthrough income is qualified business income under Section 199A. Compute Mr. Colemans income tax. Use Individual Tax Rate Schedules and Standard Deduction Table. (Round your answers to the nearest whole dollar amount.)
I need help with income tax. I got the following:
AGI: $74800
Taxable Income: $52480
Income Tax: ?????????????????????????
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