Answered: Julie's gross salary is 950,000;…

Julie's gross salary is 950,000; mandatory contributions is 50,000. Compute for the following: a. gross compensation? b. exclusions from gross income c.taxable compensation

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter12: Alternative Minimum Tax

Section: Chapter Questions

Problem 24CE

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Question

Julie's gross salary is 950,000; mandatory contributions is 50,000.

Compute for the following:

a. gross compensation?

b. exclusions from gross income

c.taxable compensation

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