Sam had $69,487 of income from wages and $215 of taxable interest. Sam also made contributions of $2,900 to a tax-deferred retirement account. Sam has 3 dependents and files as married filing jointly. What is Sam's total income? What is Sam's adjusted gross income? For Sam's filing status, the standard deduction is $12,600, and the exemption amount is $4000 per exemption. What is Sam's taxable income?

Sam had $69,487 of income from wages and $215 of taxable interest. Sam also made contributions of $2,900 to a tax-deferred retirement account. Sam has 3 dependents and files as married filing jointly. What is Sam's total income? What is Sam's adjusted gross income? For Sam's filing status, the standard deduction is $12,600, and the exemption amount is $4000 per exemption. What is Sam's taxable income?

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter5: Gross Income: Exclusions

Section: Chapter Questions

Problem 26CE

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