A married taxpayer, age 57, has the following receipts: During the tax year, the taxpayer pays $2,200

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A married taxpayer, age 57, has the following receipts:

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During the tax year, the taxpayer pays $2,200 in taxes on his rental property and $2,650 for its operation and maintenance. He had gambling losses of $65. He made no charitable contributions. Calculate the taxpayer's gross income, adjusted gross income, and taxable income.

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CCH Federal Taxation Basic Principles 2020

ISBN: 9780808051787

2020 Edition

Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback

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