Business, 27.02.2020 22:53 ezdon6690

In 2016, Lou has a salary of $53,300 from her job. She also has interest income of $1,600 and dividend income of $400. Lou is single and has no dependents. During the year, Lou sold silver coins held as an investment for a $7,000 loss.

Table for the standard deduction Filing Status 2016 Standard Deduction

Single $ 6,300
Married, filing jointly 12,600
Married, filing separately 6,300
Head of household 9,300
Qualifying widow(er) 12,600
Calculate the following amounts for Lou:

a. Adjusted gross income $
b. Standard deduction $
c. Exemption $
d. Taxable income

Answers: 3

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In 2016, Lou has a salary of $53,300 from her job. She also has interest income of $1,600 and divide...