Question: Taylor, a single taxpayer, has $ 1 6 , 7 0 0 AGI. Assume the taxable year is 2 0 2 3 . Use Standard

Taylor, a single taxpayer, has $16,700 AGI. Assume the taxable year is 2023. Use Standard Deduction Table.
Married filing jointly and surviving spouses $27,700
Married filing separately 13,850
Head of household 20,800
Single 13,850
Compute taxable income if Taylor\'s AGI consists entirely of interest income. Taylor is 70 years old and lives with his grown child who provides more than one-half of Taylor\'s financial support.

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