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October 22, 2014

Homework Help: Income tax / Accounting

Posted by austin on Friday, October 1, 2010 at 1:53pm.

Computation of taxable income: The following information for 2009 relates to Tom, a single taxpayer, age 18.

Salary $1,800
Intrest income $1,600
Itemized deductions $ 600

A. Compute Tom's taxable income assuming he is self-supporting
B. Compute Toms's taxable income assuming he is a dependent of his parents.

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