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Calculate taxable income for Rod Thirion, who files head of household and claims 3 exemptions: salary,...

Calculate taxable income for Rod Thirion, who files head of household and claims 3 exemptions: salary, $59,800; wages, $25,200; capital gains, $12,500; mortgage interest, $12,970; charitable contributions, $410

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Expert Solution

Particulars Amount Amount
Gross income:
Salary $          59,800
Wages $          25,200
Capital gains $          12,500
Gross income $          97,500
For AGI deductions $                   -  
Adjusted gross income $          97,500
Less:
Standard deduction $          18,350
Itemized deduction $          13,380
Higher of the two $          18,350
Taxable income $          79,150

Answer is 79,150

ekkarill92 answered 1 year ago
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