Mario, a single taxpayer with two dependent children, has the following items of income and expense during 2021:
|Gross receipts from business||$144,000|
|Net capital gain||22,000|
|Itemized deductions (state taxes, residence interest, and contributions)||24,000|
- Determine Mario’s taxable income for 2021.
- PLEASE BREAK DOWN EASY AND SIMPLE NO PARAGRAPHS
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