Steve Greene, age 66, is divorced with no dependents. In 2018, Steve had income and expenses as follows:Gross income from salary$80,000Total itemized deductions5,500Compute Steve's taxable income for 2018. Show all calculations.
What will be an ideal response?
| Adjusted gross income | $80,000 |
| Less: Standard deduction ($12,000 + $1,600) | ( 16,600) |
| Taxable income | $63,400 |
The additional standard deduction is for Steve's age.
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