Ross Martin arrived at the following tax information: Tax Information Gross salary Interest earnings $ 56,725 225 Dividend income 105 Standard deduction 12,000 11,290 1,400 Itemized deductions Adjustments to income

Ross Martin arrived at the following tax information: Tax Information Gross salary Interest earnings $ 56,725 225 Dividend income 105 Standard deduction 12,000 11,290 1,400 Itemized deductions Adjustments to income

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Question

Ross Martin arrived at the following tax information:
Tax Information
$ 56,725
Gross salary
Interest earnings
225
Dividend income
105
Standard deduction
12,000
11,290
1,400
Itemized deductions
Adjustments to income
What amount would Ross report as taxable income?
Taxable income

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