Multiple Choice
Lucky Louie earned $100,000 salary this year,had total itemized deductions of $10,000,one personal exemption equal to $4,000 and interest income of $3,000.Louie,was not so lucky in the stock market however and had capital losses of $8,000. What was Lucky Louie's taxable income?
A) $86,000
B) $81,000
C) $89,000
D) $90,000
Correct Answer:

Verified
Correct Answer:
Verified
Q12: If you are a married taxpayer, you
Q33: Comment on your level of knowledge to
Q50: Employers have an option of whether or
Q99: Jane purchased General Motors stock seven years
Q100: Use the following two columns of items
Q101: The highest tax rate a taxpayer is
Q102: Only the income that remains after deductions
Q104: Gross income and adjusted gross income can
Q105: Reductions of gross income for such items
Q107: If you sell an asset that you