A man earned wages of $52,800, received $1,600 in interest from a savings account, and contributed $4,200 to a tax-deferred retirement plan. He was entitled to a personal exemption of $3,700 and had deductions totaling $5,400. Find his gross income, adjusted gross income, and taxable income.

A man earned wages of $52,800, received $1,600 in interest from a savings account, and contributed $4,200 to a tax-deferred retirement plan. He was entitled to a personal exemption of $3,700 and had deductions totaling $5,400. Find his gross income, adjusted gross income, and taxable income.

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter10: Deduct Ions And Losses: Certain Itemized Deduct Ions

Section: Chapter Questions

Problem 28P

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