Assignment 4

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Assignment 4

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Assignment 4

 

During 2020​, Doug incurs the following deductible​ expenses:

$2,300 in state income​ taxes, $3,000 in local property​ taxes, $800 in medical​ expenses, and $2,000 in charitable contributions. Doug is​ 33, single, has no​ dependents, and has $35,000 AGI for the year.

 

What is the amount of Doug’s taxable​ income?

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This question is taken from Accounting 015 – Tax Accounting I » Spring 2021 » Assignments