Chapter 8 Homework Question 4

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Chapter 8 Homework

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 » Chapter 8 Homework

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