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What average taxable professional income will apply

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Reference no: EM132810228

Tommy is a resident taxpayer who derives income as a fiction author. Tommy's taxable professional income since he began writing has been.

2012/2013          $ 120,000
2013/2014         $ 71,650
2014/2015          $ 35,000
2015/2016             $ 43,000
2016/2017          $ 71,600
2017/2018          $ 28,000
2018/2019        $ 14,000

Problem 1: What average taxable professional income will apply to him in the 2018/19 income year?

Select one:

a. $14,000
b. $47,429
c. $44,400
d. $54,750

Reference no: EM132810228

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