Computation of taxable income. The following information relates to Tom, a single taxpayer, age 18. Wages...

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Computation of taxable income. The following information relates to Tom, a single taxpayer, age 18. Wages...

Computation of taxable income. The following information relates to Tom, a single taxpayer, age 18. Wages = $7,000 Taxable interest income = 425 Itemized deductions = 310 Tax Year 2019.

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Answer 1

Answer #1

Computation of taxable income
Wages	7000
Taxable interest income	425
Total income	7425
Less: Itemised deductions	310
Taxable income	7115

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Answer 2

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