Determining the taxable income


Sally's adjusted gross income is $38,000. She does not own a home, but has charitable contributions of $1,500 and interest on her car of $2,100. This year she also had a medical expense of $2,000. She is allowed a standard deduction of $5,000 and one personal exemption of $3,200. What is Sally's taxable income?

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Finance Basics: Determining the taxable income
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