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Posted by on Monday, January 31, 2011 at 2:52pm.

Compute taxable income.

gross salary 46,660
interest earnings 225.00
dividend income 80.00
one personal exemption 3,400
itemized deductions 7,820
adjustments to income 1,150

What amount would be reported as taxable income?

  • Finance - , Monday, January 31, 2011 at 3:41pm

    Income----------46,660
    Interest-----------225
    Dividends-----------80
    Income Adj-------1,150
    Sub Total-------48,115
    Less Item Ded----7,820
    Sub Total-------40,295
    Less Exempt------3,400
    Taxable Income--36,895

    Check my math

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