You are provided with the following amounts for Susan Kim for the current year: Net employment income
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Question:
You are provided with the following amounts for Susan Kim for the current year:
Net employment income =7400
Business A: Gross income =26000
Business B: Gross income = 106000
Business A: Expenses (for income tax purposes) = 32000
Business B: Expenses (for income tax purposes) = 28000
Interest income = 1400
Taxable amount of dividends = 1660.
Based on the above, the total amount reported pursuant to ITA paragraph in the computation of Susan Kim's net income is:
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: