For the 2018 tax year, Ron has $10,000 in income from selling produce from his farm, a

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For the 2018 tax year, Ron has $10,000 in income from selling produce from his farm, a $5,000 loss from a small engine repair business, and $50,000 in profits from a landscaping business that he has incorporated as a single member LLC.

Assuming that the above amounts represent Ron's total income and he has no other deductions or dependents, what will Ron's taxable income be for the current tax year?

Select one:

a. $47,350

b. $37,350

c. $45,000

d. $39,115

Posted Date: Sep 11, 2021 08:01 PM

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For the 2018 tax year, Ron has $10,000 in income from selling produce from his farm, a

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Answer is Option b 37350 Explanation Assu... View the full answer

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