Mr. Coleman, an unmarried individual, has the following income items: Interest income $ 24,300 Schedule...
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Accounting
Mr. Coleman, an unmarried individual, has the following income items: Interest income $ 24,300 Schedule C net profit 51,240 He has $9,350 itemized deductions and no dependents. Mr. Colemans Schedule C income is qualified business income (non-service). Required: Compute Mr. Colemans income tax. Assume the taxable year is 2021. Use Individual Tax Rate Schedules and Standard Deduction Table. (Round your intermediate calculations and final answers to the nearest whole dollar amount.)
AmountAGI :$71,920
Taxable income:
Income tax:
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