maryella is completing her tax return. she earned $25,000 last year and is single. if she takes the standard…

maryella is completing her tax return. she earned $25,000 last year and is single. if she takes the standard deduction of $12,550 allowed for a single individual and has no other adjustments, what will be her taxable income?\na $12,450\nb $12,550\nc $15,000\nd $25,000

maryella is completing her tax return. she earned $25,000 last year and is single. if she takes the standard deduction of $12,550 allowed for a single individual and has no other adjustments, what will be her taxable income?\na $12,450\nb $12,550\nc $15,000\nd $25,000

Answer

Explanation:

Step1: Recall taxable income formula

Taxable income = Gross income - Deductions

Step2: Identify values

Gross income = $25000$, Deductions = $12550$

Step3: Calculate taxable income

$25000 - 12550=12450$

Answer:

A. $12,450$