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Problem 3-24 (LO. 1) Compute 2018 taxable income in each of the following independent situations. Click here to access the standard deduction table to use
Problem 3-24 (LO. 1) Compute 2018 taxable income in each of the following independent situations. Click here to access the standard deduction table to use if required a. Drew and Meg, ages 40 and 41, respectively, are married and file a joint return. In addition to four dependent children, they have AGI of $125,000 and itemized deductions of $27,000. AGI Less: Taxable income $125,000 b. Sybil, age 40, is single and supports her dependent parents, who live with her. Sybil also supports her grandfather, who lives in a nursing home. She has AGI of $80,000 and itemized deductions of $8,000. AGI Less Taxable income $80,000 c. Scott, age 49, is a surviving spouse. His household includes two unmarried stepsons who qualify as his dependents. He has AGI of $75,000 and itemized deductions of $10,100. $75,000 AGI Less: Taxable income
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