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Daniel Simmons arrived at the following tax information: Gross salary, $62,250 Interest earnings, $75 Dividend income, $140 One personal exemption, $4,050 Itemized deductions, $7,000 Adjustments to income, $850 What amount would Daniel report as taxable income?

Respuesta :

abiolataiwo2015

The amount that Daniel would report as taxable income is $50,565.

Taxable income

Gross salary $62,250

Add: Interest earnings 75

Add Dividend income $140

Less Adjustments to income ($850)

Less One personal exemption ($4,050)

Less Itemized deductions ($7,000)

Taxable Income $50,565

Inconclusion the amount that Daniel would report as taxable income is $50,565.

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