Tamara Moore is an unmarried, 37-year-old taxpayer. She will use the head of household filing status, and she has the following income for the year: Wages: $36,500. Bank interest: $375. Municipal bond interest: $215. Lottery prize: $500. Gift from her father: $5,000. Tamara contributed $1,500 to her traditional IRA, which she will deduct. What is her adjusted gross income? $35,590 $35,875 $40,875 $41,090
Tamara Moore is an unmarried, 37-year-old taxpayer. She will use the head of household filing status, and she has the following income for the year: Wages: $36,500. Bank interest: $375. Municipal bond interest: $215. Lottery prize: $500. Gift from her father: $5,000. Tamara contributed $1,500 to her traditional IRA, which she will deduct. What is her adjusted gross income? $35,590 $35,875 $40,875 $41,090
Chapter3: Tax Formula And Tax Determination; An Overview Of property Transactions
Section: Chapter Questions
Problem 37P
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Tamara Moore is an unmarried, 37-year-old taxpayer. She will use the head of household filing status, and she has the following income for the year:
- Wages: $36,500.
- Bank interest: $375.
- Municipal bond interest: $215.
- Lottery prize: $500.
- Gift from her father: $5,000.
Tamara contributed $1,500 to her traditional IRA, which she will deduct. What is her adjusted gross income?
$35,590
$35,875
$40,875
$41,090
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