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Marvin Miller, who is claimed as a dependent by his parents, received income of $3,100 from...

Marvin Miller, who is claimed as a dependent by his parents, received income of $3,100 from a trust fund and $500 from wages. Marvin had $1,150 in itemized deductions. What is Marvin's taxable income?

$2,550

$3,600

$2,450

$1,500

None of these
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Answer #1

Taxable income = Trust fund income + wages - Itemized deductions

=3100+500-1150

=2450

The answer is c) $2,450

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