Annisa, who is 28 and single, has adjusted gross income of $55,000, itemized deductions of $5,000 and a lifetime learning credit of $1,000. In 2018, Annisa will have taxable income of

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In 2018, the standard deduction for a single filer was $12,000. Annisa's taxable income is calculated by subtracting the standard deduction from her adjusted gross income: $55,000 - $12,000 = $43,000. The lifetime learning credit does not affect taxable income; it reduces tax liability.

Annisa, Who Is 28 and Single, Has Adjusted Gross Income