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Mr. Coleman, an unmarried individual, has the following income items: Interest income $ 25,100 Schedule...

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Accounting

Mr. Coleman, an unmarried individual, has the following income items: Interest income $ 25,100 Schedule C net profit 55,480 He has $9,750 itemized deductions and no dependents. Mr. Colemans Schedule C income is qualified business income (non service).

Required: Compute Mr. Colemans income tax. Assume the taxable year is 2020. Use Individual Tax Rate Schedules and Standard Deduction Table. (Round your intermediate calculations and final answers to the nearest whole dollar amount.) r. Coleman, an unmarried individual, has the following income items: Interest income $ 25,100 Schedule C net profit 55,480 He has $9,750 itemized deductions and no dependents. Mr. Colemans Schedule C income is qualified business income (non service). Required: Compute Mr. Colemans income tax. Assume the taxable year is 2020. Use Individual Tax Rate Schedules and Standard Deduction Table. (Round your intermediate calculations and final answers to the nearest whole dollar amount.)

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Income Tax=?

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