A Single Taxpayer Provided the Following Information for 2015

question 76

Multiple Choice

A single taxpayer provided the following information for 2015: What is taxable income?

• A)$63,400
• B)$63,000
• C)$67,400
• D)$67,000

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Definitions:

Share Holdings

Ownership of a portion of a company through possession of its stock.

Lowest Terms

A fraction simplified to its most basic form, where the numerator and denominator are the smallest possible integers.

Ratio

A numerical ratio representing how often one number can be divided by another, showing either how many times one is included in the other or vice versa.

Partnership Interest

Ownership share or participation in a partnership that usually entitles the holder to a proportion of the partnership's profits and assets.