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mote1985 [20]
3 years ago
12

Imari Brown arrived at the following tax information:

Business
1 answer:
elena-14-01-66 [18.8K]3 years ago
4 0

Answer:

Total Taxable income                                             $ 32,615

Explanation:

Gross salary                                                   $ 41,595

Adjustments (subtractions) to income             $  7,000

Standard deduction                                         $  12,000

<u>Itemized deductions                                         $ 14,350</u>

<u>Itemized Deductions are considered because they are higher than standard deductions.</u>

Taxable income                                                 $ 20,245

Add business income                                        $ 12,000

Interest earnings                                                    $ 255

Dividend income                                                      $ 115

Total Taxable income                                             $ 32,615

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