Julie, an unmarried individual, lives in a home with her 13-year-old dependent son, Oscar. This year, Julie had the following tax information: Standard Deduction Table. Salary$95,000Interest and dividend income 12,800Capital gain from sale of investments 11,000Above-the-line deductions 800Itemized deductions 6,900Compute Julie's adjusted gross income (AGI) and taxable income.
A. AGI $118,000; taxable income $92,750
B. AGI $118,000; taxable income $99,650
C. AGI $118,000; taxable income $90,900
D. AGI $107,000; taxable income $88,700
Answer: B
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Indicate whether the statement is true or false