During 2018 , Doug incurs the following deductible expenses:

$ 2,300 in state income taxes, $ 3,000 in local property taxes, $ 800 in medical expenses, and $ 2,000 in charitable contributions.

Doug is 33, single, has no dependents, and has $ 35,000 AGI for the year.

What is the amount of Doug's taxable income?

Question

Business

Martha Murphy

17 August, 00:34

During 2018 , Doug incurs the following deductible expenses:

$ 2,300 in state income taxes, $ 3,000 in local property taxes, $ 800 in medical expenses, and $ 2,000 in charitable contributions.

Doug is 33, single, has no dependents, and has $ 35,000 AGI for the year.

What is the amount of Doug's taxable income?

+2

Answers (1)

Know the Answer?

Jaylan Bass · Answer 1

The amount of Doug's taxable income is $27,700.

Explanation:

GIVEN:

AGI = $35,000

State income taxes = $2300

Local property taxes = $3000

Medical expense = $800

Charitable contribution = $2000

Total deduction amount = State income taxes+Local property taxes+Charitable contribution

= 2300+3000+2000

= $ 7300

Total deduction amount = $7300

Taxable income = $35000 - $7300

= $27,700

The amount of Doug's taxable income is $27,700.