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.

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Definitions:

Small Population

A group of individuals or entities considered small in number within a larger context or comparison.

Epidemiological Study

A research investigation that aims to identify the patterns, causes, and control of diseases in groups of people.

Eating Disorders

Mental disorders that involve abnormal eating habits that negatively impact a person's physical or mental health, including anorexia, bulimia, and binge eating disorder.

Western Countries

Nations generally located in the Western Hemisphere, often associated with certain democratic, economic, and cultural characteristics.