Answered: Ron is single with no dependents and… | bartleby

SWFT Comprehensive Vol 2020

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter12: Tax Credits And Payments

Section: Chapter Questions

Problem 27P

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Question

How much is Ron's taxable income?

Ron is single with no dependents and had the following for
2014:
Wages from Union Job
$75,000
Loss from sale of stock held 4 years $-2,000
Qualifying Dividends
Exemption Deduction
$3,000
$3,950
Itemized Deductions
$14,900
How much is Ron's taxable income?

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