Compute kevins taxable income

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Reference no: EM131444616

Kevin is a single person who earns $70,000 in salary for 2016 and has other income from a variety of investments, as follows:

Bank Savings account interest $5,500

Interrest from State of Missouri Bonds $3,500

Dividends from XYZ Crop. $7,000

Kevin recieved tax refunds when he filed his 2015 tax returns in April of 2016. His federal refund was $600 and his state refund was $300. Kevin claimed the $300 state tax overpayment as an itemized deduction on his 2015 return. Due to changes in circumstances, Kevin is not itemizing deductions on his 2016 return. Compute Kevin's taxable income for 2016.

Reference no: EM131444616

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