Rob, single, age 40, no dependents, earns a salary of $55,000 in 2020 and has no adjustments. Rob has no QBI/no QBI deduction. Rob had medical expenses of $16,500 (before the % of AGI floor limitation). This is Rob's only itemized deduction. What is Rob’s taxable income in 2020?
Rob, single, age 40, no dependents, earns a salary of $55,000 in 2020 and has no adjustments. Rob has no QBI/no QBI deduction. Rob had medical expenses of $16,500 (before the % of AGI floor limitation). This is Rob's only itemized deduction. What is Rob’s taxable income in 2020?
Chapter3: Tax Formula And Tax Determination : An Overview Of Property Transactions
Section: Chapter Questions
Problem 47P
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Rob, single, age 40, no dependents, earns a salary of $55,000 in 2020 and has no adjustments. Rob has no QBI/no QBI deduction.
Rob had medical expenses of $16,500 (before the % of AGI floor limitation). This is Rob's only itemized deduction.
What is Rob’s taxable income in 2020?
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