Eugene and Velma Are Married

question 101

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. Eugene's itemized deductions are $14,200 and Velma's are $4,000. Assuming Eugene and Velma do not live in a community property state and Eugene deducts the greater of the standard deduction or itemized deductions, what is Eugene's taxable income?

• A)$10,800
• B)$18,000
• C)$1,000
• D)$21,000
• E)None of these

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Definitions:

Financial Constraints

Limitations on the availability or use of financial resources, affecting an individual's or organization's ability to make decisions.

Different Departments

Units within an organization specialized in distinct operations like marketing, finance, and human resources.

Visionary Organization

An entity guided by a clear, innovative vision for the future, often leading to groundbreaking advancements and leadership in its field.

Organizational Direction

The strategic aims and objectives that guide a company or organization’s decisions and activities towards achieving its long-term goals.