A man earned wages of $38,100, received $1800 in interest from a savings account, and contributed $3400 to a tax-deferred retirement plan. He was entitled to a personal exemption of $4050 and had deductions totaling $6350. Find his gross income, adjusted gross income, and taxable income.
A man earned wages of $38,100, received $1800 in interest from a savings account, and contributed $3400 to a tax-deferred retirement plan. He was entitled to a personal exemption of $4050 and had deductions totaling $6350. Find his gross income, adjusted gross income, and taxable income.
Chapter12: Alternative Minimum Tax
Section: Chapter Questions
Problem 24CE
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Transcribed Image Text:A man earned wages of $38,100, received $1800 in interest from a savings account, and contributed $3400 to a tax-deferred retirement plan. He was entitled to a personal exemption of $4050
and had deductions totaling $6350. Find his gross income, adjusted gross income, and taxable income.
His gross income was $
(Simplify your answer.)
C
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