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Lucky Louie Earned a Salary of $100,000 This Year and Interest

Question 20

Multiple Choice

Lucky Louie earned a salary of $100,000 this year and interest income of $3,000. Louie, was not so lucky in the stock market however and had capital losses of $3,000. What was Lucky Louie's taxable income, assuming Louie takes the standard $12,000 deduction?


A) $88,000
B) $81,000
C) $89,000
D) $90,000

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