Suppose you made $85,776 of income from wages and $830 of taxable interest. You also made contributions of $3700 to a tax deferred retirement account. You have 2 dependents and file as single. The standard deduction is 11900 and the exemption amount is 3100 per exemption. What is your Adjusted Gross Income? Answer to the nearest dollar.
Suppose you made $85,776 of income from wages and $830 of taxable interest. You also made contributions of $3700 to a tax deferred retirement account. You have 2 dependents and file as single. The standard deduction is 11900 and the exemption amount is 3100 per exemption. What is your Adjusted Gross Income? Answer to the nearest dollar.
Chapter12: Tax Administration And Tax Planning
Section: Chapter Questions
Problem 22MCQ: Melodie's taxable income is $39,000 and she pays income tax of $4,489. If Melodie's taxable income...
Related questions
Question
100%
![Suppose you made $85,776 of income from wages and $830 of taxable interest. You also made
contributions of $3700 to a tax deferred retirement account. You have 2 dependents and file as single. The
standard deduction is 11900 and the exemption amount is 3100 per exemption.
What is your Adjusted Gross Income?
Answer to the nearest dollar.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6e1c339c-d38a-4c99-a90d-3708687285ce%2F93521482-3764-4b90-b706-054ce049e146%2Ftea65d_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Suppose you made $85,776 of income from wages and $830 of taxable interest. You also made
contributions of $3700 to a tax deferred retirement account. You have 2 dependents and file as single. The
standard deduction is 11900 and the exemption amount is 3100 per exemption.
What is your Adjusted Gross Income?
Answer to the nearest dollar.
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![Individual Income Taxes](https://www.bartleby.com/isbn_cover_images/9780357109731/9780357109731_smallCoverImage.gif)
Individual Income Taxes
Accounting
ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT
![Individual Income Taxes](https://www.bartleby.com/isbn_cover_images/9780357109731/9780357109731_smallCoverImage.gif)
Individual Income Taxes
Accounting
ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT