Hannah Is Single with No Dependents and Has a Salary

question 38

Essay

Hannah is single with no dependents and has a salary of $102,000 for 2014,along with tax exempt interest income of $3,000 from a municipality.Her itemized deductions total $6,600.
Required: Compute her taxable income

---

Definitions:

Article 2(A)

A section of the Uniform Commercial Code that specifically deals with the leasing of goods.

Uniform Commercial Code

A comprehensive set of laws governing commercial transactions in the United States, intended to harmonize the law in all 50 states.

Personal Property

Items owned by an individual or business that are movable and not permanently attached to land or buildings.

Loan Default

The failure to meet the legal obligations or conditions of a loan agreement, typically by not making the required payments on time.