Erin is 67,single and has an adjusted gross income of $14,300.She has no dependents and her itemized deductions are $6,000.What is her 2016 taxable income?

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Quizplus · Accepted Answer

Erin's taxable income is $14,300 - $6,000 = $8,300. The standard deduction for a single person in 2016 is $6,300, so Erin's taxable income is $8,300 - $6,300 = $2,000. However, Erin is also entitled to a personal exemption of $4,050, so her taxable income is $2,000 - $4,050 = $2,400.

Erin Is 67,single and Has an Adjusted Gross Income of $14,300.She