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Sebastian had a rather good year in 2019. Sebastian is unmarried and provides over one-half of the support for his 39-year-old roommate who legally lives
Sebastian had a rather good year in 2019. Sebastian is unmarried and provides over one-half of the support for his 39-year-old roommate who legally lives in the home for the entire year. Sebastian had the following for 2019
Salary $64,744
Interest income 8,375
Rental income 22,350
Rental expenses 12,350
QBI deduction from AGI 2,000
Standard deduction 12,200
Itemized deductions 11,700
Calculate Sebastians adjusted gross income, taxable income, and net income tax before prepayments.
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