Taxable income is

A) total income less deductions and exemptions.
B) earned income less property income.
C) all income other than wages and salaries.
D) wage and salary income only.
E) all earned income

is it a?

Right.

Yes, you are correct. Taxable income is calculated by subtracting deductions and exemptions from total income. So, option A) total income less deductions and exemptions is the correct answer.

To determine taxable income, you would need to follow these steps:

1. Start by calculating your total income, which includes all sources of income such as wages, salaries, tips, self-employment income, rental income, interest, dividends, and any other taxable income you may have.
2. Identify and subtract any allowable deductions from your total income. Deductions include expenses such as mortgage interest, student loan interest, certain medical expenses, and contributions to retirement accounts, among others.
3. Next, determine if you are eligible for any exemptions. Exemptions are specific deductions allowed for certain taxpayers, such as those for dependents.
4. Finally, subtract the deductions and exemptions from your total income. The resulting amount is your taxable income, which is the basis for calculating your tax liability.

It's important to note that tax laws and regulations may vary in different jurisdictions, so it's always a good idea to consult with a tax professional or refer to the guidelines provided by the relevant tax authority for accurate information.