Ramon, a single taxpayer with no dependents, has adjusted gross income for 2018 of $98,000 and his

Question:

Ramon, a single taxpayer with no dependents, has adjusted gross income for 2018 of $98,000 and his itemized deductions total $19,000. What taxable income will Ramon show in 2018?

a. $74,950

b. $74,850

c. $79,000

d. $86,000

e. $87,650

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For answer-question

Income Tax Fundamentals 2019

ISBN: 9781337703062

37th Edition

Authors: Gerald E. Whittenburg, Steven Gill

See More Books

Question Posted: Mar 02, 2019 04:49 AM

See More Questions

In 2015, Charla, a single taxpayer with no dependents, was severely hurt in a farm accident. Charla is 38 years old. The accident left Charlas legs 85% paralyzed. After incurring $14,000 of medical...
In 2016, Charla, a single taxpayer with no dependents, was severely hurt in a farm accident. Charla is 38 years old. The accident left Charla's legs 85% paralyzed. After incurring $14,000 of medical...
In 2014, Charla, a single taxpayer with no dependents, was severely hurt in a farm accident. Charla is 38 years old. The accident left Charla's legs 85% paralyzed. After incurring $14,000 of medical...
Gray Corporation began operations on January 1, 2017. The following information is available for Gray Corporation on December 31, 2017. Prepare an income statement, a retained earnings statement, and...
The transactions listed below are typical of those involving Amalgamated Textiles and American Fashions. Amalgamated is a wholesale merchandiser and American Fashions is a retail merchandiser. Assume...
In Problems 5 44, solve each logarithmic equation. Express irrational solutions in exact form. log|x7| 4
True or False: Engineers seldom have an opportunity to influence the recovery period for expenditures.
Flash Corporation borrowed $120,000 from the bank on November 1, 2010. The note had an 8 percent annual rate of interest and matured on April 30, 2011. Interest and principal were paid in cash on the...
Zomato Media Private Limited ("Zomato") is a leading food-tech company based in Gurgaon, India. Being a rapidly growing company with negative profitability, Zomato needs to raise external funds to...
Dan Boyd is a financial planner trying to determine how to invest $100,000 for one of his clients. The cash flows for the five investments under consideration are summarized in the following table:...
Alicia, age 27, is a single, full-time college student. She earns $13,200 from a part time job and has taxable interest income of $1,450. Her itemized deductions are $845. Calculate Alicias taxable...
Jonathan is a 35-year-old single taxpayer with adjusted gross income in 2018 of $46,300. He uses the standard deduction and has no dependents. a. Calculate Jonathans taxable income. Please show your...
List the nine component planning sequences of software project planning.
How should Walgreens enter international markets with the use of LICENSING as its choice of entry strategy? Explain why LICENSING could be the best entry strategy for Walgreens to enter the...
Caroline has $3,000 in taxable interest, $6,000 in taxable dividends, and $1,000 in tax-exempt interest. She has paid a total of $1,000 for investment-related seminars. What is the amount she can...
How do strategic leaders effectively synchronize organizational objectives with dynamic market forces to optimize long-term viability?
A square - section test piece is being used in a tensile test. The width and breadth of the test piece are each 15 mm. Calculate the stress in the test piece when a load of 3150 N is applied.
Assume the following economy produces only skateboards and the year 1981 is the base year. . Year Quantity Produced Price 1981 75 $30 1982 100 $33 1983 125 $38 1984 150 $42 What is the nominal GDP...
The balance sheet for Fitela Industries Ltd. at the end of the current fiscal year indicated the following: Bonds payable, 10% (issued in 2002, due in 2022) ............................$4,000,000 $5...
When is the indirect pattern appropriate, and what are the benefits of using it?
As part of the property settlement related to their divorce, Cindy must give Allen the house that they have been living in, while she gets 100 percent of their savings accounts. The house was...
As part of the property settlement related to their divorce, Cindy must give Allen the house that they have been living in, while she gets 100 percent of their savings accounts. The house was...
For each of the following independent cases, indicate the amount of gross income that must be included on the taxpayer's 2015 income tax return. a. Malchia won a $4,000 humanitarian award. $...
Weaver Corporation had the following stock issued and outstanding at January 1, Year 1: 1. 73,000 shares of $4 par common stock. 2. 7,000 shares of $90 par, 6 percent, noncumulative preferred stock....
Teresa is a 32-year-old woman in your practice who frequently misses her appointments and at other times shows up without an appointment, often in crisis. She currently uses alcohol and tobacco, and...
On January 1, Year 1, Grapefruit Corporation purchased a machine for $41,300,000. Grapefruit's management expects to use the machine for 26,000 hours over the next six years. The estimated residual...

Ramon, a single taxpayer with no dependents, has adjusted gross income for 2018 of $98,000 and his

Question:

Step by Step Answer:

Income Tax Fundamentals 2019

Students also viewed these Business questions