A taxpayer has a gross income of $75,000 in the tax year 2022. The taxpayer is entitled
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Question:
A taxpayer has a gross income of $75,000 in the tax year 2022. The taxpayer is entitled to claim the standard deduction of $12,550. The taxpayer has also made charitable donations of $3,500 during the year. The taxpayer's filing status is single. Calculate the taxpayer's taxable income and income tax liability for the year 2022, assuming a tax rate of 22%.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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