Question

Leslie is a single taxpayer who is under age 65 and in good health. For 2019, she has a salary of $24,000 and itemized deductions of $1,000. Leslie allows her mother to live with her during the winter months (3–4 months per year), but her mother provides all of her own support otherwise.

a. How much is Leslie’s adjusted gross income? $_________

b. What amount of itemized or standard deduction(s) should she claim? $________

c. What is the amount of Leslie’s taxable income? $__________

Answer 1

	As per recent 2019 tax rate . Standard deduction will be as below
	Filling Status	2019 Tax Year	2020 Tax Year
	Single	$12200	$12400
	Married file separately	$12200	$12400
	Married file Jointly	$24400	$24800
	Leslie is a single taxpayer - Age 65 years
	She has a salary $ 24000
	Itemized deduction $ 1000
	But as per Tax slab she can claim MORE STANDARD deduction - $ 12200
a)	How much Leslie adjusted gross income $			24000
b)	What amount of standarized , Itemized deduction
	as per above calculation , Standard deduction is higher			12200

c)	What is Leslie taxable Income $		Amnt($)
	Adjusted Gross Income		24000
	Less
	Standard deduction as above		12200
	Less as per 2019 , No Personal Tax deduction		0
	Taxable Income		11800