Find the gross income, the adjusted gross income, and the taxable income. Base the taxable income on the greater of a standard deduction or an itemized deduction A taxpayer earned wages of $94,600, received $560 in interest from a savings account, and contributed $10,800 to a tax-deferred retirement plan She is entitled to a standard deduction of $18,800 The interest on her home mortgage was $6800, she contributed $9640 to charity, and she paid $2825 in state taxes Her gross income is $ (Simplify your answer)
Find the gross income, the adjusted gross income, and the taxable income. Base the taxable income on the greater of a standard deduction or an itemized deduction A taxpayer earned wages of $94,600, received $560 in interest from a savings account, and contributed $10,800 to a tax-deferred retirement plan She is entitled to a standard deduction of $18,800 The interest on her home mortgage was $6800, she contributed $9640 to charity, and she paid $2825 in state taxes Her gross income is $ (Simplify your answer)
Chapter2: Gross Income And Exclusions
Section: Chapter Questions
Problem 34P
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Transcribed Image Text:Find the gross income, the adjusted gross income, and the taxable income. Base the taxable income on the greater of a standard deduction or an
temized deduction
A taxpayer earned wages of $94,600, received $560 in interest from a savings account, and contributed $10,800 to a tax-deferred retirement plan
She is entitled to a standard deduction of $18,800. The interest on her home mortgage was $6800, she contributed $9640 to charity, and she paid
$2825 in state taxes
Her gross income is $
(Simplify your answer)
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