Franklin Stewart arrived at the following tax information: Gross salary Interest earnings Eligible dividend income Basic personal amount Union dues Moving expense (50 km for employment) $49,100 870 110 3,650 7,880 1,860 What amount will Franklin report as taxable income? (Round your answer to the nearest dollar amount. Omit the "$" sign in your response.) Taxable income $397445

SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter9: Individuals As Taxpayers
Section: Chapter Questions
Problem 4CE
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Franklin Stewart arrived at the following tax information:
Gross salary
Interest earnings
Eligible dividend income
Basic personal amount
Union dues
Moving expense (50 km for employment)
$49,100
870
110
39744.5
3,650
7,880
1,860
What amount will Franklin report as taxable income? (Round your answer to the nearest dollar amount. Omit the "$" sign in your
response.)
Taxable income
Transcribed Image Text:Franklin Stewart arrived at the following tax information: Gross salary Interest earnings Eligible dividend income Basic personal amount Union dues Moving expense (50 km for employment) $49,100 870 110 39744.5 3,650 7,880 1,860 What amount will Franklin report as taxable income? (Round your answer to the nearest dollar amount. Omit the "$" sign in your response.) Taxable income
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