Mary is age 33 and a single taxpayer with adjusted gross income for 2020 of $29,400. Mary maintains a home for three dependent children and has itemized deductions of $3,000. Calculate the following amounts for Mary's 2020 income tax return: a. The taxpayer status ( example: MFJ,MFS,HH) ___________________________________ b. Mary's standard or itemized deduction amount ____________________________________ c.   Mary's taxable income ________________________________________________________________________________________________

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Mary is age 33 and a single taxpayer with adjusted gross income for 2020 of $29,400. Mary maintains a home for three dependent children and has itemized deductions of $3,000. Calculate the following amounts for Mary's 2020 income tax return:


a.

The taxpayer status ( example: MFJ,MFS,HH) ___________________________________

b.

Mary's standard or itemized deduction amount ____________________________________

c.

 

Mary's taxable income ________________________________________________________________________________________________

     
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