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10 June, 11:58

Alicia (age 27) is a single, full-time college student. she earns $13,200 from a part-time job and has taxable interest income of $1,450. her itemized deductions are $845. what is her taxable income

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  1. 10 June, 14:54
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    Alicia's taxable income for 2015,

    Formula to calculate Alicia's taxable income

    Total Income = Part time earning from Job + taxable interest income - standard deduction or itemized deduction whichever is higher

    = $13200+$1450-6-$6300

    = 14650

    Standard deduction = $6300

    Taxable Income = $8,350
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