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What is your taxable income

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Question - Taxable Income. Your adjusted gross income (AGI) is $70,000. You are single and do not own a home but have charitable contributions of $7500 and $3500 interest on your student loans that you have paid throughout the year. This year you also have medical expenses of $15,000, which must pass a AGI test of 7.5% to be deducted. You are allowed a standard deduction of $12,550. What is your taxable income?

Reference no: EM133123480

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