SOLUTION: A man earned wages of $45,600, received $2700 in interest from a savings account, and contributed $2600 to a tax-deferred retirement plan. He was entitled to a pe
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Question 1176297: A man earned wages of $45,600, received $2700 in interest from a savings account, and contributed $2600 to a tax-deferred retirement plan. He was entitled to a personal exemption of $4050 and a standard deduction of $6300. The interest on his home mortgage was $9100, he contributed $2900 to charity, and he paid $1550 in state taxes. Find his gross income, adjusted gross income, and taxable income. Base the taxable income on the greater of a standard deduction or an itemized deduction.
His gross income is $__. (Simplify your answer.)
Answer by ikleyn(52781) (Show Source): You can put this solution on YOUR website!
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