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    Business
  3. Study Set
    Federal Taxation
  4. Exam
    Exam 4: I: Determination of Tax
  5. Question
    Kate Is Single and a Homeowner
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Kate Is Single and a Homeowner

Question 3

Question 3

Essay

Kate is single and a homeowner.In 2014,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 2014 is $77,000.
Required: Compute her taxable income for 2014.

Correct Answer:

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