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Author Question: Liz, who is single, lives in a single family home and owns a second single family home that she ... (Read 59 times)

Beheh

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Question 1

In 2016, Venkat, who is single and age 37, received $60,000 of gross income and had $6,800 of itemized deductions. Venkat's taxable income is
◦ $49,150.
◦ $53,200.
◦ $55,950.
◦ $49,650.

Question 2

Liz, who is single, lives in a single family home and owns a second single family home that she rented for the entire year at a fair rental rate. Liz had the following items of income and expense during the current year.



What is her adjusted gross income for the year?
◦ $52,700
◦ $61,100
◦ $62,200
◦ $68,000


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Marked as best answer by Beheh on Sep 13, 2020

sarah_brady415

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Beheh

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Reply 2 on: Sep 13, 2020
Wow, this really help


juliaf

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Reply 3 on: Yesterday
Great answer, keep it coming :)

 

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