A man earned wages of $35,000, received $2,500 in interest from a savings account, and contributed $3,800 to a tax-deferred retirement plan. He was entitled to a personal exemption of $3,200 and had deductions totaling $5,220. Find his taxable income.
A man earned wages of $35,000, received $2,500 in interest from a savings account, and contributed $3,800 to a tax-deferred retirement plan. He was entitled to a personal exemption of $3,200 and had deductions totaling $5,220. Find his taxable income.
Chapter10: Deduct Ions And Losses: Certain Itemized Deduct Ions
Section: Chapter Questions
Problem 28P
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A man earned wages of $35,000, received $2,500 in interest from a savings account, and contributed $3,800 to a tax-deferred retirement plan. He was entitled to a personal exemption of $3,200 and had deductions totaling $5,220. Find his taxable income.
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT