Kevin is a single person who earns $70,000 in salary for 2016 and has other income from a variety of investments,as follows:
Kevin received tax refunds when he filed his 2015 tax returns in April 2016.His federal refund was $600 and his state refund was $300.Kevin deducted his stated taxes paid in 2015 as an itemized deduction on his 2015 return.Due to changes in circumstances,Kevin is not itemizing deductions on his 2016 return.
Compute Kevin's taxable income for 2016.

Question

Kevin is a single person who earns $70,000 in salary for 2016 and has other income from a variety of investments,as follows:
  Kevin received tax refunds when he filed his 2015 tax returns in April 2016.His federal refund was $600 and his state refund was $300.Kevin deducted his stated taxes paid in 2015 as an itemized deduction on his 2015 return.Due to changes in circumstances,Kevin is not itemizing deductions on his 2016 return.
Compute Kevin's taxable income for 2016.

Quizplus · Accepted Answer

The Answer of Kevin is a single person who earns $70,000 in salary for 2016 and has other income from a variety of investments,as follows:
  Kevin received tax refunds when he filed his 2015 tax returns in April 2016.His federal refund was $600 and his state refund was $300.Kevin deducted his stated taxes paid in 2015 as an itemized deduction on his 2015 return.Due to changes in circumstances,Kevin is not itemizing deductions on his 2016 return.
Compute Kevin's taxable income for 2016.

Kevin Is a Single Person Who Earns $70,000 in Salary