Eugene and Velma Are Married

question 50

Multiple Choice

Eugene and Velma are married. For 2019, Eugene earned $25,000 and Velma earned $30,000. They have decided to file separate returns. They have no deductions for adjusted gross income. Velma's itemized deductions are $14,200 so she is going to itemize. Eugene's itemized deductions are $4,000. Assuming Eugene and Velma do not live in a community property state, what is Eugene's taxable income?

• A)$18,000
• B)$12,800
• C)$21,000
• D)$26,000
• E)None of these

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Definitions:

Total Amount

The complete sum or quantity of something, often referring to the total money involved in a transaction.

Pareto Efficient

A condition in which no individual's situation can be improved without worsening the situation of another individual.

Public Good

A product or service that is provided without profit to all members of a society, either by the government or a private individual or organization.

Private Good

A product or service that is consumed by an individual and cannot be used or consumed by others once it is purchased.