Calculate his adjusted gross income.
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Brain had three adjustments of the amounts $970, $8,510, and $4,730 to his income of $21,310. Calculate his adjusted gross income.
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- a-1. Assume Shauna's AGI is $132,000. Determine Shauna's taxable income. Note: Round your intermediate calculations to the nearest whole dollar amount.In the current year, Ralph reports an adjusted gross income of $100,000 and also pays medical and dental expenses during the same year. What amount of these expenses could Ralph deduct on Schedule A? Amounts exceeding $5,500 Amounts exceeding $7,500 Amounts exceeding $10,000 Amounts exceeding $11,500Danny received the following interest and dividend payments this year. What amount should Danny include in his gross income? a. 2,500 b. 1,500 c. 3,700 d. 2,200
- Duke and Pat Collins have adjusted gross income of $358,000. They have itemized deductions of $20,000 consisting of $8,000 in medical expenses that exceed 10% of adjusted gross income, $3,000 in property taxes, $4,000 in housing interest, and $5,000 in miscellaneous itemized deductions. What is the amount of their itemized deductions?Mohammad and Waleed. reports net income of $88,000. Interest allowances are Joe $7,000 and Sam $5,000; salary allowances are Joe $14,000 and Sam $10,000; the remainder is shared equally. Show the distribution of income on the income statement1. Using the information below, fill in the blanks in the far right column with the amount of each item that is included in Adjusted Gross Income. These may either be additions to or subtractions from AGI (or neither). Calculate Kim's Adjusted Gross Income, Standard or Itemized deductions, Taxable Income (TI), Tax on Taxable Income (Tax Liability), and Amount Due or Refund for 2022. Kim is single, 42 years old, and blind. Kim's employer withheld $10,500 of federal income tax from her wages. Then answer questions 2-5. Item Description Salary Interest received on Marathon Oil Corp (MRO) bonds Interest received on City of Whitewater general revenue bonds. Alimony received Gift from parents Loss gambling in the office pool for the NFL playoffs Adjusted Gross Income (AGI) Amount Taxable Income: 73,000 1,100 725 8,500 9,000 -500 Standard (basic + additional) or Itemized deduction (greater of) Notes reported on W2 reported on 1099 INT reported on 1099 INT divorced in 2021 Tax amount from the…
- Below is a graph of the Robinson's annual expenses. How much will the Robinsons pay in state/local taxes if their gross annual household income is S85,420? a.$3.559.17 b. $8,542.00 C. $20.500.80 d. $29,897.007 Martha has a gross income of $63,822. She can make adjustments of $10,884 for business losses, $3,672 for business expenses, and $2,983 for contributions to her retirement plan. What is Martha's adjusted gross income?a. Determine Joe and Jessie's AGI and taxable income for the year. Note: Round your intermediate calculations to the nearest whole dollar amount.
- You are provided with the following amounts for Sarah Feeley for the current year: View the amounts. Based on the amounts, what is the net income reported by Sarah Feeley pursuant to ITA 3 for the current year? OA. $60,180 O B. $65,080 OC. $57,680 O D. $72,480 Amounts Net employment income (ITA 5 to 8) Interest income (ITA 12) Taxable amount of dividends Taxable capital gains (ITA 38 to 55) Allowable capital losses (ITA 38 to 55) RRSP deduction (allowed pursuant to ITA 60) Print Done $ $ $ 62,000 7,600 1,380 4,900 7,400 10,800 - Xa. Determine Joe and Jessie's AGI and taxable income for the year. (Round your intermediate calculations to the nearest whole dollar amount.) Joe and Jessie's AGI Joe and Jessie's Taxable incomeShelby has net investment income of $ 15,035 and wage income of $65,000 . She paid investment interest expensive of $15,350. What is Shelby's deduction for investment interest expense?
