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

Algebra ->  Finance -> 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      Log On


   

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) About Me  (Show Source):
You can put this solution on YOUR website!
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