Problem 4-34 (LO 4-1, LO 4-2) (Algo)

Rank the following three single taxpayers in order of the magnitude of taxable income (from lowest to highest). (First mean highest taxable income, third means lowest taxable income.)

	Ahmed		Baker		Chin
Gross income	$	96,800	$	96,800	$	96,800
Deductions for AGI		15,900		9,425		0
Itemized deductions		0		8,000		14,500
Deduction for qualified business income		0		2,100		10,000

Ahmed

baker

chin