In 2014,Sean,who is single and age 44,received $55,000 of gross income and had $5,000 of deductions for AGI and $4,600 of itemized deductions.Sean's taxable income is
A)$39,850.
B)$43,900.
C)$45,400.
D)$41,450.

Question

Quizplus · Accepted Answer

Sean's taxable income is $45,400. His gross income is $55,000, and he has $5,000 of deductions for AGI and $4,600 of itemized deductions. This means that his taxable income is $55,000 - $5,000 - $4,600 = $45,400.

In 2014,Sean,who Is Single and Age 44,received $55,000 of Gross