Solution-What is the individual net income for tax purposes

What is the individual net income for tax purposes

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Reference no: EM133095169

Question - An individual receives monthly payments of $1,200 as spousal support and $2,300 as child support for their two children, pursuant to a court order. The individual earned employment income of $59,000 and incurred childcare expenses of $9,500 for a 3-year old and $4,500 for a 10-year old. What is the individual's net income for tax purposes?

A. $88,000

B. $59,400

C. $60,400

D. $1,400

E. none of the above

Reference no: EM133095169

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What is the individual net income for tax purposes

Reference no: EM133095169

Reference no: EM133095169

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