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Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
During the current tax year, Doug incurs the following deductible expenses:
State Income Tax $2,300
Local Property Tax $3,000
Medical Expenses $ 800
Charitable Contributions $2,000
Doug is 33, single with no dependents. His has $35,000 AGI for the year.
What is the amount of Doug's taxable income.
| AGI | |||||||
| Less itemized deductions: | |||||||
| Medical: | $ | ||||||
| Less: 10% of AGI | |||||||
| Deductible medical expenses | $ - | ||||||
| State income taxes | |||||||
| Local property taxes | |||||||
| Charitable contributions | |||||||
| Total itemized deductions | |||||||
| Compare to standard deduction | |||||||
| Deduction (itemized > standard) | |||||||
| Personal exemption | |||||||
| Taxable income | $ - | ||||||
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