Question: Help Save&Exit Submit Check my work Through November, Cameron has received gross income of $70,000. For December, Cameron is considering whether to accept one more
Help Save&Exit Submit Check my work Through November, Cameron has received gross income of $70,000. For December, Cameron is considering whether to accept one more work engagements for the year. Engagement 1 will generate $8.820 of revenue at a cost to Cameron of $3,900, which is deductible for AGI n contrast, engagement 2 will generate $725 of qualified business income which s eligible for the 20%O deduction. Cameron files as a single taxpayer. Calculate Cameron's taxable income assuming he chooses engagement 1 and assuming he no itemized deductions. chooses engagement 2. Assume he has Description Engagement 1 Engagement 2 (1) Gross income before new work engagement (2) Income from engagement (3) Additional for AGl deduction (4) Adjusted gross income (5) Greater of itemized deductions or standard deduction (6) Deduction for QBI Taxable income
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