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Author Question: In 2016, Sean, who is single and age 44, received $55,000 of gross income and had $5,000 of ... (Read 26 times)

savannahhooper

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Question 1

Generally, deductions for adjusted gross income on an individual's tax return include all the following types of expenses except those
◦ incurred in gambling activities.
◦ incurred in a trade or business.
◦ incurred in the production of rent income.
◦ incurred in the production of royalty income.

Question 2

In 2016, Sean, who is single and age 44, received $55,000 of gross income and had $5,000 of deductions for AGI and $4,600 of itemized deductions. Sean's taxable income is
◦ $39,650.
◦ $43,700.
◦ $45,400.
◦ $41,350.


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Marked as best answer by savannahhooper on Sep 13, 2020

Kingjoffery

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savannahhooper

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Reply 2 on: Sep 13, 2020
Great answer, keep it coming :)


anyusername12131

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Reply 3 on: Yesterday
Gracias!

 

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