Question
Peter is single, age 59, and had adjusted gross income of $130,000 in 2023. His itemized deductions (before any limitations) were as follows: Medical expenses:
Peter is single, age 59, and had adjusted gross income of $130,000 in 2023.
His itemized deductions (before any limitations) were as follows:
Medical expenses: $3,100
Mortgage interest on personal residence: $4,000
State income tax: $3,000
Real estate property tax: $2,500
The standard deduction in 2023 for single filers was $13,850
What is Peter's taxable income?
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Cost Accounting Planning And Control
Authors: Adolph Matz, Milton F. Usry
10th Edition
0538809256, 978-0538809252
