Charles Is a Single Person,age 35,with No Dependents

question 50

Multiple Choice

Charles is a single person,age 35,with no dependents.In 2016,Charles has gross income of $75,000 from his sole proprietorship.Charles also incurs $80,000 of deductible business expenses in connection with his proprietorship.He has interest and dividend income of $22,000.Charles has no itemized deductions.Charles's taxable income is

• A)$6,650.
• B)$10,700.
• C)$12,950.
• D)$17,000.

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Definitions:

Research

The systematic investigation into and study of materials and sources in order to establish facts and reach new conclusions.

Thalamus

A structure in the brain that acts as a relay station for sensory and motor signals to the cerebral cortex, playing a key role in processing and transmitting information.

Memory

The cognitive function that allows an individual to store, retain, and recall information from past experiences.

Saint-John's-Wort

A herbal plant traditionally used in the treatment of mild to moderate depression, though its efficacy and safety are subjects of ongoing research.