Alex gross income is $104,000. He contributes $7,000 per year to a 401k plan. He takes the standard deduction of $ 6,350 and an exemption of $4,050. What is Alex's adjusted gross income? What is Alex's taxable income?
Alex gross income is $104,000. He contributes $7,000 per year to a 401k plan. He takes the standard deduction of $ 6,350 and an exemption of $4,050. What is Alex's adjusted gross income? What is Alex's taxable income?
Chapter8: Taxation Of Individuals
Section: Chapter Questions
Problem 37P
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Alex gross income is $104,000. He contributes $7,000 per year to a 401k plan. He takes the standard deduction of $ 6,350 and an exemption of $4,050.
What is Alex's adjusted gross income?
What is Alex's taxable income?
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