Problem 1-7 The Tax Formula for Individuals, Filing Status and Tax Computation, The Standard Deduction...
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Problem 1-7 The Tax Formula for Individuals, Filing Status and Tax Computation, The Standard Deduction (LO 1.3, 1.5, 1.8) 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. Table for the standard deduction Filing Status Standard Deduction Single Married, filing jointly Married, filing separately $12,400 24,800 12,400 Head of household 18,650 Qualifying widow(er) 24,800 Calculate Alicia's taxable income for 2020, 13,805
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