Ask Question
Today, 16:31

Eugene and Velma are married. For 2018, Eugene earned $25,000 and Velma earned $30,000. They have decided to file separate returns. They have no deductions for adjusted gross income. Eugene's itemized deductions are $14,200 and Velma's are $4,000. Assuming Eugene and Velma do not live in a community property state and Eugene deducts the greater of the standard deduction or itemized deductions, what is Eugene's taxable income?

+2
Answers (1)
  1. Today, 17:28
    0
    Eugene's taxable income is $10,800

    Explanation:

    in case of separate filling, if one spouce sellected itemized deduction then other will also have to use itemized deduction.

    taxable income = $25,000 - $14,200

    = $10800

    Therefore, Eugene's taxable income is $10,800.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Eugene and Velma are married. For 2018, Eugene earned $25,000 and Velma earned $30,000. They have decided to file separate returns. They ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers