Give me taxable income Ron is single with no dependents and had the following for2014:Wages from Union Job$75,000Loss from sale of stock held 4 years $-2,000Qualifying Dividends$3,000Exemption Deduction$3,950Itemized Deductions$14,900How much is Ron's taxable income?

Explanation of Wages: Wages represent the income earned from employment, including salaries, hourly…

Answered: Ron is single with no dependents and…

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter1: The Individual Income Tax Return

Section: Chapter Questions

Problem 4P: In 2019, Lou has a salary of $53,300 from her job. She also has interest income of $1,600 and...

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In 2019, Lou has a salary of $53,300 from her job. She also has interest income of $1,600 and dividend income of $ 400. Lou is single and has no dependents. During the year, Lou sold silver coins held as an investment for a $7,000 loss. Calculate the following amounts for Lou: Adjusted gross income $ ____________________ Standard deduction $ ____________________ Taxable income $ ____________________
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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 $3,000 Exemption Deduction $3,950 Itemized Deductions $14,900 How much is Ron's taxable income?