Lucky Louie Earned $100,000 Salary This Year,had Total Itemized Deductions

question 103

Multiple Choice

Lucky Louie earned $100,000 salary this year,had total itemized deductions of $10,000,one personal exemption equal to $4,000 and interest income of $3,000.Louie,was not so lucky in the stock market however and had capital losses of $8,000. What was Lucky Louie's taxable income?

• A) $86,000
• B) $81,000
• C) $89,000
• D) $90,000

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