A woman earned wages of $35,600,received $1600 in interest from a savings account, and contributed $2800 to a tax-deferred retirement plan.She was entitled to a personal exemption of $4050 and a standard deduction of $6300. The interest on her home mortgage was $8400,she contributed $2600 to charity, and she paid $1675 in state taxes. Find her gross income, adjusted gross income, and taxable income. Base the taxable income on the greater of a standard deduction or an itemized deduction. Her gross income is Her adjusted gross income is Her taxable income is

A woman earned wages of $35,600,received $1600 in interest from a savings account, and contributed $2800 to a tax-deferred retirement plan.She was entitled to a personal exemption of $4050 and a standard deduction of $6300. The interest on her home mortgage was $8400,she contributed $2600 to charity, and she paid $1675 in state taxes. Find her gross income, adjusted gross income, and taxable income. Base the taxable income on the greater of a standard deduction or an itemized deduction. Her gross income is Her adjusted gross income is Her taxable income is

Microeconomics A Contemporary Intro

10th Edition

ISBN:9781285635101

Author:MCEACHERN

Publisher:MCEACHERN

Chapter13: Capital, Interest, Entrepreneurship, And Corporate Finance

Section: Chapter Questions

Problem 6QFR

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