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27 April, 06:03

During 2018 , Doug incurs the following deductible expenses:

$ 2,300 in state income taxes, $ 3,000 in local property taxes, $ 800 in medical expenses, and $ 2,000 in charitable contributions.

Doug is 33, single, has no dependents, and has $ 35,000 AGI for the year.

What is the amount of Doug's taxable income?

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  1. 27 April, 09:36
    0
    The amount of Doug's taxable income is $27,700.

    Explanation:

    GIVEN:

    AGI = $35,000

    State income taxes = $2300

    Local property taxes = $3000

    Medical expense = $800

    Charitable contribution = $2000

    Total deduction amount = State income taxes+Local property taxes+Charitable contribution

    = 2300+3000+2000

    = $ 7300

    Total deduction amount = $7300

    Taxable income = $35000 - $7300

    = $27,700

    The amount of Doug's taxable income is $27,700.
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