Greg Is Single

question 36

Essay

Greg is single.During 2019, he received $60,000 of salary from his employer.That was his only source of income.He reported $3,000 of for AGI deductions and $9,000 of itemized deductions.The 2019 standard deduction amount for a single taxpayer is $12,200.What is Greg's taxable income?

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Definitions:

Metabolism

Metabolism is the set of life-sustaining chemical reactions in organisms for converting food to energy, building proteins, and eliminating waste products.

Oxidation Reactions

Chemical reactions that involve the transfer of electrons, resulting in an increase in oxidation state, often associated with the release of energy.

Catabolism

Catabolism refers to the set of metabolic pathways that break down molecules into smaller units, releasing energy stored within chemical bonds.

Anabolism

The constructive phase of metabolism in which the body cells synthesize complex molecules from simpler ones for growth, repair, and storage.