Quantitative Problem: Jenna is a single taxpayer with no dependents so she qualifies for one personal exemption.

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Quantitative Problem:Jenna is a single taxpayer with no dependents so she qualifies for one personal exemption. During 2013, she earned wages of $132,000. She doesn't itemize deductions, so she will take the standard deduction and her personal exemption to calculate 2013 taxable income. In addition, during the year she sold common stock that she had owned for five years for a net profit of $4,100. How much does Jenna owe to the IRS for taxes? Round your intermediated and final answers to the nearest cent.

Posted Date: May 19, 2024 10:15 AM

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Quantitative Problem: Jenna is a single taxpayer with no dependents so she qualifies for one personal exemption.

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