In 2018, Richard, a Single Taxpayer, Has Adjusted Gross Income

question 359

Multiple Choice

In 2018, Richard, a single taxpayer, has adjusted gross income of $40,200. His AGI includes $4,000 of qualified dividends. Richard does not itemize deductions. What is his 2018 federal income tax?

• A) $3,194
• B) $3,314
• C) $2,714
• D) None of the above.

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Definitions:

Rental Period

The defined length of time for which a lessee has the right to use the leased property.

Commercial Lease

A legally binding agreement between a landlord and a business for the rental of property used for commercial purposes.

Two Months' Notice

A formal notification, often in employment or tenancy agreements, requiring two months' advance warning before termination.

Landlord

An owner of property who rents it out to tenants in exchange for monthly rent.