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	$	95,600	$	95,600	$	95,600
Deductions for AGI		15,500		8,425		0
Itemized deductions		0		7,600		14,300
Deduction for qualified business income		0		1,900		10,000

Ahmed

Baker

Chin