contestada

Imari Brown arrived at the following tax information:

Tax Information Gross salary $ 41,595
Additional small business income 12,000
Interest earnings 255
Dividend income 115
Standard deduction 12,000
Itemized deductions 14,350
Adjustments (subtractions) to income 7,000

What amount would Imari report as taxable income?

Respuesta :

akiran007

Answer:

Total Taxable income                                             $ 32,615

Explanation:

Gross salary                                                   $ 41,595

Adjustments (subtractions) to income             $  7,000

Standard deduction                                         $  12,000

Itemized deductions                                         $ 14,350

Itemized Deductions are considered because they are higher than standard deductions.

Taxable income                                                 $ 20,245

Add business income                                        $ 12,000

Interest earnings                                                    $ 255

Dividend income                                                      $ 115

Total Taxable income                                             $ 32,615

Otras preguntas