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Soved Problem 3-1 (LO3.2) Assume the standard deduction for a single person is $6,350. Daniel Simmons arrived at the following tax information: Gross salary Dividend

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Soved Problem 3-1 (LO3.2) Assume the standard deduction for a single person is $6,350. Daniel Simmons arrived at the following tax information: Gross salary Dividend income Itemized deductions $ 64,560 $ 160 $ 8,060 Interest earnings One personal exemption Adjustments to income $ 220 $ 4,050 $ 1,290 What amount would he report as taxable income? Taxable income

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