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HACTEHA [7]
3 years ago
7

Ramon, a single taxpayer with no dependents, has adjusted gross income for 2019 of $98,000 and his itemized deductions total $19

,000. What taxable income will Ramon show in 2019
Business
1 answer:
hammer [34]3 years ago
8 0

Answer:

$79,000

Explanation:

The computation of the taxable income is shown below:

Taxable income = Adjusted gross income for 2019 - his itemized total deductions

= $98,000 - $19,000

= $79,000

The Ramon is not given any personal exemption because from the year 2018 to the year 2025, no personal exemption is allowed as new tax rules are implemented.

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