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Tommys only source of income is from a business he operates as a sole proprietorship. Assuming that Tommy only qualifies for the Basic Personal Credit
Tommys only source of income is from a business he operates as a sole proprietorship. Assuming that Tommy only qualifies for the Basic Personal Credit for 2020, what is the maximum amount of net income for tax purposes (NIFTP) that Tommy can earn in 2020 without having any federal taxes payable for 2020?
A. $48,535
B. $1,984
C. $1,245
D. $0
E. $13,229
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