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Author Question: Kate is single and a homeowner. In 2016, she has property taxes on her home of $3,000, makes ... (Read 123 times)

123654777

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Question 1

In 2015, Sam is single and rents an apartment for which he pays $800 per month and makes charitable contributions of $1,000. Sam's adjusted gross income is $47,000.

Required: Compute his taxable income. Show all calculations.

Question 2

Kate is single and a homeowner. In 2016, she has property taxes on her home of $3,000, makes charitable contributions of $2,000, and pays home mortgage interest of $7,000. Kate's adjusted gross income for 2016 is $77,000.

Required: Compute her taxable income for 2016.


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Marked as best answer by 123654777 on Sep 13, 2020

mrphibs

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123654777

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Reply 2 on: Sep 13, 2020
Gracias!


kjohnson

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Reply 3 on: Yesterday
:D TYSM

 

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