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Mr. Coleman, an unmarried Individual, has the following Income Items: Interest income Schedule C net profit $ 23,800 58,240 He has $10,000 itemized deductions and
Mr. Coleman, an unmarried Individual, has the following Income Items: Interest income Schedule C net profit $ 23,800 58,240 He has $10,000 itemized deductions and no dependents. Mr. Coleman's Schedule C Income is qualified business Income (non- service). Required: Compute Mr. Coleman's Income tax. Assume the taxable year is 2021. Use Individual Tax Rate Schedules and Standard Deduction Table. (Round your Intermediate calculations and final answers to the nearest whole dollar amount.) Amount AGI Taxable income Income tax
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