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Midterm Exam Question 3
Question
Midterm Exam
3. Reva is a single taxpayer with a taxable pension of $24,000, tax-exempt interest of $8,000, and Social Security benefits of $10,000. What is the amount of her taxable Social Security benefits?
- $8,500
- $10,000
- $5,000
- $7,050
This question is taken from Accounting 015 – Tax Accounting I » Spring 2021 » Midterm Exam