Charles Is a Single Person,age 35,with No Dependents

question 61

Multiple Choice

Charles is a single person,age 35,with no dependents.In 2014,Charles has gross income of $75,000 from his sole proprietorship.Charles also incurs $80,000 of deductible business expenses in connection with his proprietorship.He has interest and dividend income of $22,000.Charles has no itemized deductions.Charles's taxable income is

• A)$6,850.
• B)$10,800.
• C)$13,050.
• D)$17,000.