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Toshiomi Works as a Sales Representative and Travels Extensively for His

Question 104

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Toshiomi works as a sales representative and travels extensively for his employer's business. This yearToshiomi was paid $75,000 in salary and made the following expenditures: Toshiomi works as a sales representative and travels extensively for his employer's business. This yearToshiomi was paid $75,000 in salary and made the following expenditures:   Toshiomi also made a number of trips to Las Vegas for gambling. This year Toshiomi won $12,000 in a poker tournament and this amount was almost enough to offset his other gambling losses ($13,420). CalculateToshiomi's taxable income if he files single with one personal exemption. Toshiomi also made a number of trips to Las Vegas for gambling. This year Toshiomi won $12,000 in a poker tournament and this amount was almost enough to offset his other gambling losses ($13,420). CalculateToshiomi's taxable income if he files single with one personal exemption.

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$63,650 = 67,700 − 4,050 (personal exemp...

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