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Sagot :
Aiden's taxable income for 2021 based on the information given is $66,200.
What is taxable income?
Taxable income is the total income that an individual receives that is non-taxable in a tax year minus the allowed deductions.
Data and Calculations:
Salary = $80,000
Interest on bonds = $3,000 (non-taxable)
Interest on CD = $2,000
Cash dividend = $2,200
Life insurance proceeds = $200,000 (non-taxable)
Inheritance = $100,000 (non-taxable)
Loan repayment to Aiden = $5,000 (non-taxable)
Itemized deductions = $9,700
Standard deduction for head of household = $18,000
Aiden's taxable income = $66,200 ($80,000 + $2,000 + $2,200 - $18,000).
Thus, Aiden's taxable income for 2021 based on the information given is $66,200.
Learn more about computing taxable income at https://brainly.com/question/10137785
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