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Jennifer, an unmarried individual, lives in a home with her 13-year-old dependent son, Oscar. This year, Jennifer had the following tax information. Salary Qualified Business income from sole proprietorship Dividend income Deduction for self-employment tax Itemized deductions $54,800 25,000 2,800 1,766 14,200 Compute Jennifer's adjusted gross income (AGI) and taxable income.

Jennifer, an unmarried individual, lives in a home with her 13-year-old dependent son, Oscar. This year, Jennifer had the following tax information. Salary Qualified Business income from sole proprietorship Dividend income Deduction for self-employment tax Itemized deductions $54,800 25,000 2,800 1,766 14,200 Compute Jennifer's adjusted gross income (AGI) and taxable income.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Jennifer, an unmarried individual, lives in a home with her 13-year-old dependent son, Oscar. This year, Jennifer had the following tax information. Salary Qualified Business income from sole proprietorship Dividend income Deduction for self-employment tax Itemized deductions $54,800 25,000 2,800 1,766 14,200 Compute Jennifer's adjusted gross income (AGI) and taxable income.
Transcribed Image Text:Jennifer, an unmarried individual, lives in a home with her 13-year-old dependent son, Oscar. This year, Jennifer had the following tax information. Salary Qualified Business income from sole proprietorship Dividend income Deduction for self-employment tax Itemized deductions $54,800 25,000 2,800 1,766 14,200 Compute Jennifer's adjusted gross income (AGI) and taxable income.
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