Jessica, who is single with one familial dependent, has the following for the calendar year 2019: RECEIPTS
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Question:
Jessica, who is single with one familial dependent, has the following for the calendar year 2019:
RECEIPTS FOR YEAR
Salary as Business Consultant (part-time)... ..$24,200
Interest from Friendly Bank...... ............................2,436
Interest from City of Chula Vista bonds....... .......2,000
Social Security benefits .........................................19,000
EXPENDITURES FOR YEAR Contribution to IRA........ 920
itemized deductions............................................. 17,400
Jessica claims one $500 dependency credit.
How much are Jessica's adjusted gross income, taxable income and gross tax?
Related Book For
South Western Federal Taxation 2015
ISBN: 9781305310810
38th edition
Authors: William H. Hoffman, William A. Raabe, David M. Maloney, James C. Young
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