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Julius Is a Single Taxpayer What Is Julius's Taxable Income?
A)$70,350
B)$77,350
C)$85,000
D)$87,000
E)$88,000

Question 99

Multiple Choice

Julius is a single taxpayer. During the year he pays the following amounts. Julius's adjusted gross income is $100,000 before considering these expenses.
?
 State income tax withhel d from paycheck $5,000 Federal income tax withheld from paycheck $15,000 FICA taxes withheld from paycheck $7,650 Cash contribution to state university $8,000 Renter’s insurance on apartment $500 Cash contribution to church $2,000 Cable television subscription fees $1,000 Cost of professional wardrobe $7,000\begin{array}{lc}\text { State income tax withhel d from paycheck } & \$ 5,000 \\\text { Federal income tax withheld from paycheck } & \$ 15,000 \\\text { FICA taxes withheld from paycheck } & \$ 7,650 \\\text { Cash contribution to state university } & \$ 8,000 \\\text { Renter's insurance on apartment } & \$ 500 \\\text { Cash contribution to church } & \$ 2,000 \\\text { Cable television subscription fees } & \$ 1,000 \\\text { Cost of professional wardrobe } & \$ 7,000\end{array}

What is Julius's taxable income?


A) $70,350
B) $77,350
C) $85,000
D) $87,000
E) $88,000

Correct Answer:

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